38 Drummond Street
Perth, ON
- 5,000 sqft
- Investment
Fully tenanted 7-unit multi-residential investment property in a prime Perth location, directly across from the hospital and situated on one of the town's most desirable streets. This turnkey asset offers immediate rental income with a strong tenant profile, supported by a well-maintained building that combines historic character with key capital upgrades.The property consists of 7 self-contained units: 2 two-bedroom units, 4 one-bedroom units, and 1 bachelor unit, providing a well-balanced unit mix attractive to a broad tenant base. Tenants benefit from on-site shared laundry, generous storage, a detached coach house garage with loft space, and a clean, dry basement, adding further utility and long-term appeal.Major infrastructure improvements completed in 2019/2020 include all new hydro meters, updated breaker panels, and a full electrical rewire, significantly reducing near-term capital expenditure concerns and improving operational efficiency. Pride of ownership is evident throughout, with the building carefully maintained to preserve its condition and tenant appeal.Set in a high-demand rental location near Perth Hospital, this property offers a compelling opportunity for investors seeking stable cash flow, solid fundamentals, and long-term upside in a quality multi-unit asset. The property's distinctive Victorian architecture, spacious layouts, hardwood flooring, mouldings, stained glass, and multiple fireplaces enhance tenant desirability while setting it apart from typical rental inventory.
Virtual Tour
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Listing Details
- Taxes (2024)
- $10,035
- Originally Listed
- $1,150,000
- Listed
- July 9, 2025
Price History
Property
- Lot Size
- 75 x 150 Feet
Parking
- Garage
- Single Detached
Location & Legal
- Cross Street
- Drummond St W & Mary St
- Zoning
- R4
- Parcel Number
- 051750029
- Possession
- Other
- Occupancy
- Tenant
Commercial
- Business Type
- Apts - 6 To 12 Units
Community
Postal area K7H
- Population
- 16,175
- Private dwellings
- 8,360
- Median age
- 55.6
- Average household size
- 2.2
- Median household income
- $82,000
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Commercial in Perth · last 12 months
- Median sold price
- $509,500
- Homes sold
- 96
- Median days on market
- 23
- Sale-to-list price
- 97.2%
Based on 96 recorded sales of commercial properties in Perth over the last 12 months.
Listed by
RE/MAX FRONTLINE REALTY
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Commercial figures
- Building area
- 5,000 sq ft
- Price per sq ft
- $199.00
- Annual property tax
- $10,035
- Tax per sq ft
- $2.01
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
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