Address
48-52 NEWGATE Street Goderich, ON
Price
$ 2,050,000
Property Attributes
  • ID#40196674
  • TypeMulti-Family
  • CityGoderich
  • NeighbourhoodGoderich Town
  • Postal CodeN7A 1P1
  • Style
  • Price$ 2,050,000
  • Bedrooms12
  • Bathrooms9
  • Half Bathrooms0
  • Sqr Footage6628
  • Lot Size12,023 SqFt
Listing Provided Courtesy Of:
Peak Realty Ltd.
Data Source:
Canadian Real Estate Association
Property Description

Unique income investment opportunity located in the commercial core of Goderich, one of Canada's prettiest towns on the sunny shores of Lake Huron, Ontario. A very reliable revenue stream of approximately $106,000 (2021) flows from the always rented 9 unit buildings with room to increase rents through tenant attrition. The property consists of two well maintained clean buildings, one being a legal 5 plex purpose built in 1994 and the other being an older updated legal bungalow 4 -plex with ample onsite parking and separate hydro meters. After expenses of $25,920 (2021) the property yields a CAP Rate of 3.9% (2021) with allowable rent increases for 2022 yet to be applied to the bottom line. These sought after attractive rental units are in a very vibrant convenient location close to all amenities and attractions and within a 15 minute walk to the main beach & marina. An excellent rental market exists in this active hub of activity on Ontario's West Coast servicing regional commercial, industrial and governmental employers including the Bruce Power Generation Plant. Do not delay, ask about this fantastic golden gem ready for you to take it to the next level !! (id:7434)

General Features

Ammenities Beach, Hospital, Marina, Park, Place of Worship, Playground, Schools, Shopping
Community Features Community Centre
Features Park/reserve, Beach, Paved driveway, Skylight
Foundation Type Block
Location Description From Courthouse Square to Hamilton St to Newgate St
More Information Link https://www.realtor.ca/real-estate/23915472/48-52-newgate-street-goderich
Ownership Type Freehold
Property Type Multi-family
Zoning Description C 5

Interior Features

Basement Development Partially finished
Basement Type Full (Partially finished)
Building Fireplace Present False
Building Heating Type Baseboard heaters, Hot water radiator heat
Construction Style Attachment Detached

Exterior Features

Exterior Finish Brick, Stone, Vinyl siding
Land Amenities Beach, Hospital, Marina, Park, Place of Worship, Playground, Schools, Shopping
Parking Space Total 11
Sewer Municipal sewage system
Structure Shed

Amenities

  • Views
  • New Construction
  • Adult 55+
  • Lease To Own
  • No Strata Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in N7A 1P1

Price
AVG $2.05M
$2.05M
Visits
AVG 5
5