16 GORE STREET E

KELLER WILLIAMS INTEGRITY REALTY

Print this Page

**16 GORE STREET E, Perth, Ontario, K7H1H5**
Property TypeMulti-family	Built in1920

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:46094)

**Details**
Management CompanySelf-Managed -	OwnershipFreehold
Parking Spaces12	TransactionFor sale
Zoning DescriptionC1

**Building**
Constructed Date1920	Exterior FinishStone
FoundationStone	Bathrooms (Half)0
Bathrooms (Total)0	Heating FuelNatural gas
HeatingHot water radiator heat	Storeys Total3
Utility WaterMunicipal water

**Land**
Size Frontage79 ft	SewerMunicipal sewage system
Size Depth89 ft	Size Irregular79 ft X 89 ft

Listing Office: KELLER WILLIAMS INTEGRITY REALTY

Data Provided by Ottawa Real Estate Board

Last Modified :12/09/2022 12:10:33 PM