16 GORE STREET E$1,825,000

Fourteen unit income property. Two adjacent mixed-use retail/residential buildings are located in the heart of the main commercial district of Perth, Ontario. The municipal addresses include #6, #12, #14, & #16 Gore Street East. The property has 100% occupancy with 3 retail units plus 11 residential units. All of the leases are currently gross rent. The tenants do pay for their hydro separately. The commercial tenants also pay for their gas consumption. There are 12 parking spaces at the back of the building. Parking is included in the rent. All rents are under market value offering the next owner the opportunity to fully renovate the residential units & common areas over time which will increase the financial performance & valuation of the building by a substantial amount. No on-site laundry. The lower flat roof is at the end of its lifespan. Two tankless water boilers were installed less than 7 years ago. Two hot water tanks service the building & are less than five years old. (id:46641)