16 GORE STREET E
Perth, Ontario K7H1H5

$1,525,000

A fourteen-unit, fully occupied mixed-use income property. Three commercial retail units plus 11 residential apartments. This an incredible opportunity for a value-add investor that appreciates underperforming assets. The residential rents are currently 50% below the market value and commercial rents are 30% below market value. This building offers a very significant upside for a sophisticated investor. All units are separately metered for hydro. Commercial tenants also pay for utilities in addition to the rent. The property includes 12 parking spaces at the back of the building. No on-site laundry. Two tankless water boilers were installed 3 and 7 years ago service the building. The building is located in the downtown historic core of Perth. It is a prime pedestrian location in a growing community. Work towards turning over the tenants and updating the the cosmetics of the units to attract higher paying tenants, significantly increasing the revenue and value of the building. (id:25961)

Hot water radiator heat

Virtual Tour
Bathroom Total 0
Half Bathrooms Total 0
Year Built 1920
Heating Type Hot water radiator heat
Heating Fuel Natural gas
Stories Total 3
Courtesy of KELLER WILLIAMS INTEGRITY REALTY

Listed on: October 14, 2023

On market: 46 days

Office: 613.270.8200

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