38 Drummond Street, Perth, ON

Description

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.