$1,695,000
FOR SALE

Land

Lot: 126.35 x 209.68 ft
2024 Taxes: $3,281

60 Drummond St W
Perth, ON K7H 2K4 | 907 - Perth | Lanark

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.
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Listed By RE/MAX HALLMARK REALTY GROUP
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X12480782
Last Updated Nov 01, 2025
Property Summary
Property Type Land

More like this:
PIN 051740034
Legal Description PT LT B PK LT 5 PL 8828 LANARK S LYING WITHIN SW 1/2 LT 2 CON 2 DRUMMOND PT 3 27R5123; TOWN OF PERTH. PT LT B PK LT 5 PL 8828 LANARK S LYING WITHIN SW 1/2 LT 2 CON 2 DRUMMOND PT 2 27R5123; TOWN OF PERTH.
Possession Date To be arranged
Taxes (2024) $3,281
Directions/Cross Streets Drummond between Perkins and Harris.
Neighbourhood 907 - Perth
Area Lanark
Price History

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Detailed Information
Lot 126.35 x 209.68 ft
Garage Type None
Parking Spaces 10
Sewers Storm

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