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16 Gore Street E Perth, Ontario K7H 1H5

Hot Water Radiator Heat

$1,825,000

Fourteen-unit income property includes 3 commercial retail units plus 11 residential apartments. An incredible opportunity for a value-add investor that appreciates underperforming assets and knows how to make the necessary renovations and cycle out tenants to raise rents to a market value. The successful sophisticated investor will actualize the embedded equity to increase the value of the property by more than $2,500,000. Projected value of $4,400,000 once the building performance is improved to market rates. Residential rents are currently 50% below market value and commercial rents are 30% below market value. A fully occupied building in the downtown core of Perth, Ontario. All units are separately metered for hydro. Commercial tenants also pay for heat and water. Includes 12 parking spaces. No on-site laundry. Two tankless water boilers were installed 3 and 7 years ago. Two hot water tanks service the building & are less than five years old. (id:39544)

Property Details

MLS® Number 1312207
Property Type Multi-family
Neigbourhood Downtown Perth
Parking Space Total 12

Building

Constructed Date 1920
Exterior Finish Stone
Foundation Type Stone
Heating Fuel Natural Gas
Heating Type Hot Water Radiator Heat
Stories Total 3
Utility Water Municipal Water

Land

Acreage No
Sewer Municipal Sewage System
Size Depth 89 Ft
Size Frontage 79 Ft
Size Irregular 79 Ft X 89 Ft
Size Total Text 79 Ft X 89 Ft
Zoning Description C1

https://www.realtor.ca/real-estate/24851897/16-gore-street-e-perth-downtown-perth

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Mitch Gauzas
Salesperson

(613) 829-1818
www.mitchgauzas.com
https://www.facebook.com/michgauzasrealestate/

Keller Williams Integrity Realty
2148 Carling Ave., Units 5 & 6
Ottawa, Ontario K2A 1H1

(613) 829-1818
(613) 829-3223
www.kwintegrity.ca

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