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$1,695,000
Ontario,Perth
For Sale Active
60 DRUMMOND STREET W, Perth, Ontario K7H2K4
  • 3 Acre
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Basic Details
Description

Shovel Ready!! Prime Opportunity for Development: 25-Unit Apartment Building Site in Beautiful Perth!! Attention real estate investors and developers! We are excited to present a rare opportunity to acquire a FULLY APPROVED AND REGISTERED SITE PLAN for a 25-unit apartment building in the heart of the picturesque town of Perth. This prime property, nestled amid stunning landscapes, offers a unique

chance to capitalize on the ever-growing demand for quality housing in this vibrant community. The approved site plan includes a contemporary design that harmoniously blends with the surrounding environment. With a mix of one-, two-, and three-bedroom units, this project is poised to cater to a diverse demographic, from young professionals to families seeking a tranquil lifestyle. The design prioritizes open spaces and ample natural light, ensuring a welcoming atmosphere for all residents. Additionally, the site’s registration against the title provides a secured foundation for the development process. Interested parties can commence construction without delay, further enhancing the investment’s potential for a quick turnaround. This property boasts two income-generating duplexes at 60Aand 60B, providing not only stable tenant occupancy but also attractive cash flows. Total Annual Gross Income: $65,328. Reliable Cash Flow: Existing duplexes create consistent cash flow, allowing coverage of holding costs during the pre-construction phase, Improved Financing Metrics: Strong net yields at the duplex level fortify financing potential, including phased development strategies. In summary, this shovel-ready project generates a robust gross income of $65,328 with a manageable expense footprint of $21,503, leading to a substantial net income of $43,825 in 2024. With immediate development possibilities and financing advantages.Don’t miss out on the chance to be part of Perth’s transformation. (id:62650)

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Basic Details
  • Property Type: Residential
  • Listing Type: For Sale
  • Listing ID: X12480782
  • Price: $1,695,000
  • Square Footage: 3 Acre
  • Status: Active
  • Office Name: RE/MAX HALLMARK REALTY GROUP
  • Property Sub Type: Vacant Land
  • Office Key: 278197
Features & Appliances
Features
  • Sewer: Storm sewer
Address Map
  • Location: CA, Ontario, Perth, K7H2K4
  • Street: Drummond
  • Street Number: 60
  • Street Suffix: Street
  • Longitude: W77° 44' 35.1''
  • Latitude: N44° 54' 28.7''
  • Street Dir Suffix: West
Additional Information
  • Water Source:
  • Lot Size Dimensions: 0.87
Financial
  • Tax Annual Amount: 3281
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Listing updated: 2025-12-08 09:05:21
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Listing Information
  • List Agent Key: 1911616
  • List Office Key: 278197
  • Modification Timestamp: 2025-10-28T14:05:17Z
  • Originating System Name: Ottawa Real Estate Board
  • Status Change Timestamp: 2025-10-28T13:54:39Z
Powered by REALTOR.ca
Listing updated: 2025-12-08 09:05:21
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