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 $256,636 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.
Address
5 Rogers Road
List Price
$5,500,000
Property Type
Commercial
Type of Dwelling
Investment
Area
Perth
Sub-Area
907 - Perth
County
Lanark
Lot Depth
250
Lot Type
Building
Lot Size Units
Feet
Lot Width
294.3
MLS® Number
X11891292
Listing Brokerage
ROYAL LEPAGE TEAM REALTY
Postal Code
K7H 1N9
Tax Amount
$40,195.00
Tax Year
2023
Community Features
Public Transit
Heat Type
Gas Hot Water
Cooling Features
No
Garage Type
Outside/Surface
