For Sale: 60 Drummond Street W, Perth, ON - REW
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$1,398,000
0 bd • ba • 1 sf • Land/Lot
60 Drummond Street W
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$1,398,000
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60 Drummond Street WPerth, ON, K7H 2K4

  • 0 Bed
  • Bath
  • 1 Sqft
  • Land/Lot

About this home

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:63626)
Listed by: Maha Shahbazian, Salesperson, RE/MAX HALLMARK REALTY GROUP

Home facts and features

Price details
List Price
$1,398,000
Get Pre-Approved
Gross Taxes for 2026
$3,281
Home facts
Bedrooms
0
Full Bathrooms
Parking Spaces
10
Property Type
Land/Lot
Lot Size
126 ft x 0 ft (37897 ft²)
Depth
Frontage
126.4 feet
Agent details
Primary Agent
Maha Shahbazian
Primary Broker
RE/MAX HALLMARK REALTY GROUP
Secondary Agent
Secondary Broker
RE/MAX HALLMARK REALTY GROUP
Listing details
Days on REW
32 Days
Property Views
68
MLS® Number
X13088814
Source
Canadian Real Estate Association
Board
Ottawa Real Estate Board
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Purchase Price
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Amortization
25 Years
Interest Rate
3.99%

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Property Insights

The Stewart Public School
  • Public
  • JK - 6
Perth School
  • Public
  • 7 - 12
St John Elementary School
  • Catholic
  • JK - 6
The Queen Elizabeth School
  • Public
  • JK - 6
St John Catholic High School
  • Catholic
  • 9 - 12
St. John Intermediate School
  • Catholic
  • 7 - 8
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Salesperson
Maha Shahbazian
Phone:
(613) 862-6242
Office:
613-236-5959
Salesperson
Samira Shahbazian
Phone:
(613) 853-9988
Office:
613-236-5959
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