Standing tall on the corner of Keefer Street and Gore Avenue, the subject property is one of the most prominent buildings in Chinatown. Originally constructed in 1912, 609 Gore Avenue represents a classic example of 20th Century Edwardian architecture, and was originally built as the Stratford Hotel to accommodate the booming population of Chinatown. In 1981, it was then converted to a mixed-use residential/commercial property and renamed Fan Tower.
Improved with a six-storey building plus basement, 609 Gore Ave offers a beautiful brick façade, historic cornices, and large bay windows, and features 51 suites, approximately 1,991 SF of office space, as well as prominent retail at grade.
The residential portion of the property consists of 51 residential suites: 10 bachelor suites; 36 one-bedroom suites; and 5 two-bedroom suites, with nearly every floor having an identical layout, save for the top floor which shares the office space. While some units have drop down ceilings, many units enjoy the high 9-foot ceilings with exposed wood beam. Each unit is equipped with a two-appliance package consisting of a fridge and a range, and the hoods are vented. Heating is provided via radiant heaters, as well as, fresh air being ventilated into the suites.
The retail spaces comprise of 6,643 SF with mezzanine, boasting exceptionally grand ceilings ranging from 12-feet, all the way up to 20-feet, while the mezzanine space has approximately an 8-foot ceiling. The building offers a large basement with high ceilings ranging from 9-feet to 10’8”, as well as a crawl space.
The building’s roof is torch-on and the building is serviced by a three-phase 1800-amp main with individual meters to the units, as well as a back-up generator. Heat and hot water is provided by dual IBC high-efficiency boilers and three IBC 80-gallon hot water tanks. Each residential unit is serviced with 100-amps and their own electrical panels.
The entire building is sprinklered and the common areas are monitored through camera surveillance. There is one elevator as well as a handicap entrance. There are two pairs of coin-operated washers and dryers in the building.
With substantial upside, 609 Gore Avenue offers a unique opportunity to capture and capitalize on Chinatown’s revitalization providing for a secure and lucrative investment.