48-52 Newgate Street Goderich, Ontario N7A 1P1
$1,980,000
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:3334)
Property Details
| MLS® Number | 40196674 |
| Property Type | Multi-family |
| Amenities Near By | Beach, Hospital, Marina, Park, Place Of Worship, Playground, Schools, Shopping |
| Community Features | Community Centre |
| Features | Park/reserve, Beach, Paved Driveway, Skylight |
| Parking Space Total | 11 |
| Structure | Shed |
Building
| Bathroom Total | 9 |
| Bedrooms Total | 12 |
| Basement Development | Partially Finished |
| Basement Type | Full (partially Finished) |
| Construction Style Attachment | Detached |
| Exterior Finish | Brick, Stone, Vinyl Siding |
| Fire Protection | Smoke Detectors |
| Foundation Type | Block |
| Heating Type | Baseboard Heaters, Hot Water Radiator Heat |
| Stories Total | 2 |
| Size Interior | 6628 |
| Utility Water | Municipal Water |
Land
| Access Type | Water Access, Road Access |
| Acreage | No |
| Land Amenities | Beach, Hospital, Marina, Park, Place Of Worship, Playground, Schools, Shopping |
| Sewer | Municipal Sewage System |
| Size Depth | 107 Ft |
| Size Frontage | 117 Ft |
| Size Irregular | 0.276 |
| Size Total | 0.276 Ac|under 1/2 Acre |
| Size Total Text | 0.276 Ac|under 1/2 Acre |
| Zoning Description | C 5 |
https://www.realtor.ca/real-estate/23915472/48-52-newgate-street-goderich
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May 20 2022 07:17:13
Kitchener-Waterloo Association of REALTORS®
Peak Realty Ltd.
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