60 Drummond Street

ActivePerth · 907 - Perth92 days on marketMLS® X13088814

$1,398,000

$1,398,000 / sq ft

Bedrooms0

Bathrooms0

Interior1 sq ft

Lot Size1 sq ft

TypeLand

ListingFor Sale

Days on Market92

About this property

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.

Features & finishes

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Air Conditioning

Basement

Property details

MLS® Number	X13088814
Status	Active
Listing Type	For Sale
Property Type	Land
Interior Size	1 sq ft
Lot Size	1 sq ft
Beds / Baths	0 bed · 0 bath
Neighbourhood	907 - Perth
City	Perth
Postal Code	K7H 2K4
Province	ON
Listed Date	May 6, 2026
Days on Market	92
Price per Sq Ft	$1,398,000
Brokerage	RE/MAX HALLMARK REALTY GROUP