48-52 NEWGATE Street , Goderich

12 Bed / 9 Bath / $2,050,000 / MLS® Listing #:40196674

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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:10452)

Property Details

Property Type Multi-family
Square Feet 6628.0000
Maintenance N/A
Days On Our Website 23
Basement Partially finished - Full (Partially finished)
Lot Dimensions 0.276 ac|under 1/2 acre
Pool N/A
Area Goderich
Air Conditioning N/A
Heating - Baseboard heaters, Hot water radiator heat
Exterior Brick, Stone, Vinyl siding
Parking Spaces 11
Sewers Municipal sewage system
Water Municipal water

Listing Office: Peak Realty Ltd.

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