16 Gore Street E Perth, Ontario K7H 1H5

Hot Water Radiator Heat


Fourteen-unit income property includes 3 commercial retail units plus 11 residential apartments. This 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. Residential rents are currently 50% below market value and commercial rents are 30% below market value. Lots of upside for a sophisticated investor who will actualize the embedded equity to increase the value of the property by more than $2,000,000. 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:37464)

Property Details

MLS® Number 1331798
Property Type Multi-family
Neigbourhood Downtown Perth
Parking Space Total 12


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


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


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