48-52 NEWGATE Street, Goderich, Ontario, N7A1P1

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For sale, ID#: 40196674
48-52 NEWGATE Street
Goderich Ontario
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12 Beds
9 Bath
$1,980,000

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:2471)

Representative
Val Brooks
Val BrooksSales Representative,
ROYAL LEPAGE CROWN REALTY SERVICES, BROKERAGE
Property Details
  • Property Address: 48-52 NEWGATE Street, Goderich, Ontario, N7A1P1
  • Property Type: Multi-family
  • Zoning Description: C 5
  • Title: Freehold
  • Lot Size: 0.276
  • Acreage: 0.276 ac|under 1/2 acre
  • Sewage Type: Municipal sewage system
  • Water Type: Municipal water
  • Access: Water access, Road access
  • Total Parking Spaces: 11
  • Amenities Nearby: Beach, Hospital, Marina, Park, Place of Worship, Playground, Schools, Shopping
Structure Details
  • Style: Detached
  • Storeys: 2
  • Floor Space: 6628
  • Bedrooms: 12
  • Bathrooms: 9-Total
  • Basement Type: Full (Partially finished)
  • Exterior Type: Brick, Stone, Vinyl siding
  • Foundation Type: Block
  • Structures: Shed
Amenities / Features
  • Park/reserve
  • Beach
  • Paved driveway
  • Skylight
  • Community Centre
Neighbourhood Information

Listing Office: Peak Realty Ltd.

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48-52 NEWGATE Street, Goderich, Ontario, N7A1P1

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