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Multi-family For Sale

For Sale
19
$ 1,825,000
$23,101 / Sqft
Perth, Ontario K7H1H5
0 Bed
0 Bath
Sqft Sqft
0 Room
Built Year 1920
QR Code

About this property

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:48414)

Snapshot

Property Type : Multi-family
Listing Type : For Sale
Listing ID : 1312207
Price : $1825000
Bedrooms : 0
Bathrooms : 0
Half Bathrooms : 0
Square Footage : 79 Sqft
Year Built : 1920
Lot Area : 0 Sqft

Features

Heating System : Hot Water Radiator Heat
Fireplace : False
Parking : 12
Land Sewer : Municipal Sewage System
Stories : 3
Building Exterior Finish : Stone
Heating Fuel : Natural Gas

Other Information

Municipal ID : 051770093
Ownership Type : Freehold
Land Size Depth : 89 Sqft
Land Size Irregular : 79 Sqft
Zoning Description : C1
Management Company : Self-Managed -
Listing Provided by : KELLER WILLIAMS INTEGRITY REALTY
Land SizeFrontage : 79 Sqft

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