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48-52 Newgate Street Goderich, Ontario N7A 1P1

12 Bedroom 9 Bathroom 6628
Baseboard Heaters, Hot Water Radiator Heat

$2,050,000

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:45648)

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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