Office Listings

16 GORE STREET E
Downtown Perth Perth K7H 1H5

$1,825,000
Multi-family baths: 0.0 built: 1920

Main Photo: 16 GORE STREET E in Perth: Multi-family for sale : MLS®# 1331798
Photo 1: 16 GORE STREET E in Perth: Multi-family for sale : MLS®# 1331798
Photo 2: 16 GORE STREET E in Perth: Multi-family for sale : MLS®# 1331798
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Photo 8: 16 GORE STREET E in Perth: Multi-family for sale : MLS®# 1331798
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Photo 10: 16 GORE STREET E in Perth: Multi-family for sale : MLS®# 1331798
Photo 11: 16 GORE STREET E in Perth: Multi-family for sale : MLS®# 1331798
Photo 12: 16 GORE STREET E in Perth: Multi-family for sale : MLS®# 1331798
Status:
Active
Prop. Type:
Multi-family
MLS® Num:
1331798
Year Built:
1920
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:2493)
Property Type:
Multi-family
Transaction Type:
For sale
Zoning:
C1
Ownership Type:
Freehold
Property Management Company:
Self-Managed -
Community:
Downtown Perth
Number of bathrooms:
0.0
Half Bathrooms:
0
Age:
103 years
Exterior Finish:
Stone
Fireplace:
No
Foundation:
Stone
Heating:
Hot water radiator heat
Heating Fuel:
Natural gas
# Storeys:
3.0
Water:
Municipal water
Sewer:
Municipal sewage system
Lot Frontage:
79'
Lot Depth:
89'
Acreage:
No
Lot Size:
79 ft X 89 ft
Lot Details:
79 ft X 89 ft
Total Parking Spaces:
12
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Data was last updated June 5, 2023 at 08:15 AM (UTC)
Area Statistics
Listings on market:
10
Avg list price:
$589,450
Min list price:
$348,000
Max list price:
$6,750,000
Avg days on market:
33
Min days on market:
8
Max days on market:
94
Avg price per sq.ft.:
$232.92
These statistics are generated based on the current listing's property type and located in Perth. Average values are derived using median calculations.
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