16 GORE STREET E

Property ID: 1312207

16 GORE STREET E

16 GORE STREET E

Share This:
  • beds
  • bath0
  • garage12

Description

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:21126)

Property Location

Data Provided by REALTORS® Association of Canadian Real Estate

Last Modified: Mon, 12 Sep 2022 17:10:33 GMT

MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association

Similar Properties


$ 695,000

For sale

25 BAYSWATER AVENUE


  • 2

  • 2

  • 1998
  • Single Family

$ 67,500

For sale

PT LT 10 CON 7 NORTH


  • 0
  • Vacant Land

$ 724,900

For sale

20 HEXHAM ROAD


  • 3

  • 2

  • 1962
  • Single Family

Subscribe to our Newsletter