60 Drummond Street
Perth, ON
0.87 sqft • Land • 307 days on market
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.
Listing Details
- Taxes (2024)
- $3,281
- Listed
- October 24, 2025
Price History
Listing history
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Property
- Lot Size
- 126.35 x 209.68 Feet
Utilities
- Sewer
- Storm
Location & Legal
- Cross Street
- Drummond between Perkins and Harris.
- Zoning
- Commercial
- Parcel Number
- 051740034
- Possession
- Flexible
Commercial
- Occupancy
- Tenant
Included
- Inclusions
- 2 refrigerators, 2 stoves and 2 NG boilers in 60A. 2 refrigerators, 2 stoves and one NG furnace in 60B.
- Exclusions
- Tenant's Belongings.
- Rental Items
- None
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
- $495,000
- Homes sold
- 93
- Median days on market
- 22
- Sale-to-list price
- 97.0%
Based on 93 recorded sales of commercial properties in Perth over the last 12 months.
Listed by
RE/MAX HALLMARK REALTY GROUP
Location
Commercial figures
- Annual property tax
- $3,281
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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