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For Sale · Specialty

59 NORTH Street, Goderich

59 NORTH Street, Goderich, ON N7A2T5

$1.1M total

3,319 SF

Asset Class

Specialty

Size

3,319 SF

Building class

A

Zoning

DC2 — Site Specific

$ / SF

$331

Occupancy

92%

About this property

WELCOME TO THE BEACH! Calling ALL INVESTORS this property is located in the heart of Canada’s Prettiest Town. This 6 plex is close to all Goderich amenities including the DOWNTOWN SQUARE and who doesn’t want to live near the beach. The main floor unit could easily be used as office space with many other offices in the area. This property offers exceptional character and has been well maintained with modern renovations and all fire code requirements. Each unit is separately metered and tenants pay all their own utilities with the exception of heat. There are five 1 bedroom units and one 2 bedroom unit. There is plenty of parking with 8 total spots, 4 per side. This home offers a great sized back yard and shed with hydro for bikes and outdoor lawn equipment. This property has a potential income of over $90,000 annually or live in one unit and rent the rest, or run your own business out of your home and still have plenty of units to rent. Enjoy everything this property has to offer with it’s great location, the 1889 character, the meticulous care that has been put in to all the renovations. Looking for history and charm but with fantastic income potential this is the property for you, MUST SEE to appreciate the love & Care put in to this one, DO NOT MISS THIS BEAUTY! (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$1.10M
Down payment30% · $330K
Interest rate6.25%
Amortization25 years
Occupancy92%
Expense growth2.5%

Monthly debt service

$5K

Projected NOI

$78K

Annual cash flow

$17K

Cash-on-cash

5.27%

DSCR

1.29

Going-in cap

7.12%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Rent roll (estimated)

TenantAreaExpiry
Lakeview Physiotherapy3,047 SF2034-05

Area demographics

Trade area within 3 miles of the property.

Population

87,780

Households

37,367

Median income

$75,500

Median age

42.6

Daytime population

102,495

5-yr growth

6.1%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 59 NORTH Street, Goderich.

NDA required

  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.