48-52 NEWGATE Street, Goderich, Ontario, N7A1P1

$1,980,000

MLS® 40196674


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48-52 NEWGATE Street, Goderich, Ontario, N7A1P1  

$1,980,000    

12 Beds 9 Baths


PROPERTY INFORMATION:

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:42443)

BUILDING FEATURES:

Style: Detached Foundation Type: Block
Basement Development: Partially finished Basement Type: Full (Partially finished)
Exterior Finish: Brick, Stone, Vinyl siding
Floor Space: 6628.0000 Heating Type: Baseboard heaters, Hot water radiator heat
Fire Protection: Smoke Detectors    

PROPERTY FEATURES:

Lot Depth: 107 ft Bedrooms: 12
Bathrooms: 9 Lot Frontage: 117 ft
Structure Type: Shed Amenities Nearby: Beach, Hospital, Marina, Park, Place of Worship, Playground, Schools, Shopping Zoning: C 5
Community Features: Community Centre Sewer: Municipal sewage system
Features: Park/reserve, Beach, Paved driveway, Skylight    

ROOMS:

   





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