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5 Rogers Rd
Perth, ON K7H 1N9
Multifamily Property For Sale
·
23 Units
Investment Highlights
- Excellent investment opportunity with long term tenants and a strong NOI
- Well maintained building with recent upgrades
- Ample tenant parking with room to expand
- Property adjacent to river and green space
- 22 two bedroom units, 1 studio unit
- Walking distance to golf courses, restaurants, grocery stores, retail, and more
Executive Summary
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 don't 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.
Property Facts Under Contract
| Price Per Unit | $195,652 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 2.54 AC |
| Cap Rate | 5.70% | Building Size | 25,000 SF |
| No. Units | 23 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 1.32/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R3 - Residential, multi-family | ||
| Price Per Unit | $195,652 CAD |
| Sale Type | Investment |
| Cap Rate | 5.70% |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.54 AC |
| Building Size | 25,000 SF |
| No. Stories | 3 |
| Year Built | 1964 |
| Parking Ratio | 1.32/1,000 SF |
| Zoning | R3 - Residential, multi-family |
Amenities
Site Amenities
- Smoke Free
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
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