60 Drummond Street W Perth, Ontario K7H 2K4
$1,695,000
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. Contact us today to schedule a viewing or for more information on this exclusive offering. (id:29090)
Property Details
| MLS® Number | X12480782 |
| Property Type | Vacant Land |
| Community Name | 907 - Perth |
| Parking Space Total | 10 |
Building
| Size Interior | 3 Ac |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Sewer | Storm Sewer |
| Size Depth | 209 Ft ,8 In |
| Size Frontage | 126 Ft ,4 In |
| Size Irregular | 0.87 |
| Size Total | 0.87 Ac |
| Size Total Text | 0.87 Ac |
| Zoning Description | Commercial |
https://www.realtor.ca/real-estate/29029374/60-drummond-street-w-perth-907-perth
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October 24 2025 05:27:32
Ottawa Real Estate Board
RE/MAX Hallmark Realty Group