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Key Details
Property Type Commercial
Sub Type Building and Land
Listing Status Active
Purchase Type For Sale
Square Footage 4,763 sqft
Price per Sqft $566
MLS Listing ID 40840287
Abv Grd Liv Area 4,763
Annual Tax Amount $12,647
Lot Size 1,742 Sqft
Acres 0.04
Property Sub-Type Building and Land
Source Cornerstone
Property Description
The property comprises 5 residential units and 2 commercial units, including 3 rare loft-style residential floor plans that offer a highly desirable blend of character, functionality, and modern design rarely found in purpose-built rental inventory.
Offered with assumable CMHC MLI Select financing featuring a 5-year term at 4.13% interest (potentially lower subject to lender approval) and an attractive 50-year amortization, creating exceptional cash flow and long-term financing stability.
The property has undergone a comprehensive transformation with virtually all major infrastructure replaced, including electrical, plumbing, HVAC, framing, and insulation. Additional features include all split-unit heating and cooling systems, 8 separate hydro meters (including house meter), a brand-new galvanized powder-coated metal fire escape, 2018 roof, 2021 windows, and 4 on-site parking spaces.
Offered at a 4.85% capitalization rate inclusive of taxes, insurance, common utilities, vacancy allowance, property management, and maintenance expenses. Enjoy close to $35,000 in annual positive cash flow. A rare opportunity to acquire a turnkey, institutionally financed mixed-use asset in one of Hamilton's most active growth corridors with strong in-place income and significant long-term appreciation potential.
Location
Province ON
County Hamilton
Area 14 - Hamilton Centre
Zoning D3
Direction Wellington St N & King William St
Rooms
Basement Full
Kitchen 0
Interior
Fireplace No
Exterior
Street Surface Paved
Lot Frontage 30.17
Lot Depth 64.42
Garage No
Building
Lot Description Rectangular, City Lot, Public Transit
Faces Wellington St N & King William St
Story 3
Sewer Sewer (Municipal)
Water Municipal
Level or Stories 3
Structure Type Brick
New Construction No
Others
Senior Community false
Tax ID 171680137
Ownership Freehold/None
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