On the banks of the Tay River, in the charming Town of Perth you will find this incredible multi-family investment opportunity. To say they dont make them like this anymore would be an understatement. Built in 1964 with brick and concrete block construction, this 23 unit low rise apartment building is as solid as they come. This desirable location is on 1.6 waterfront acres in the heart of Perth where shopping, groceries, restaurants and golf are all within walking distance. The building has been well maintained with recent upgrades including windows, generator, roof maintenance and electrical and fire retrofits. The building is made up of 22 2-bedroom apartments and one bachelor, boasting a healthy NOI of $217,968 despite the fact that most units have longer term tenants paying well below market rates. The oversized lot has plenty of green space where residents can enjoy the riverfront views and two ample parking lots with plenty of room for future expansion.
| MLS # | X12413292 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Sold Conditional |
| Year | 0 |
| Days On Site | 51 |
| Listing Provided By | ROYAL LEPAGE TEAM REALTY | X12413292 506805 |
| SQ Feet | 73,616 |
|---|---|
| Acreage | 1.69 |
| Cooling | Partial |
|---|
| Community Features | Public Transit, Recreation/Community Centre |
|---|
| Utilities | Yes |
|---|
| Tax Annual Amount | 43488 |
|---|---|
| Tax Type | Annual |
| Tax Legal Description | PT LT 15 VILLAGE OF CAROLINA, 16 VILLAGE OF CAROLINA, 20 VILLAGE OF CAROLINA, 21 VILLAGE OF CAROLINA PL 8828 LANARK S DRUMMOND AS IN RS73448 EXCEPT BLS485; S/T PR10246; TOWN OF PERTH |
| Tax Year | 2025 |
| Province | ON |
|---|---|
| County | Lanark |
| City | Perth |
| Postal Code | K7H 1N9 |
| Area | 907 Perth |
| Province | ON |
|---|---|
| County | Lanark |
| City | Perth |
| Postal Code | K7H 1N9 |
| Area | 907 Perth |