463-477 KING STREET E, Hamilton, Ontario
$4,649,000
- 19 Baths
- 17,800 Square Feet
This exceptional investment is listed at over a 6% cap rate based on in-place cash flow with five commercial units vacant: imagine the upside! Additionally, a path has been identified for the conversion of main floor retail units to up to new 16 residential apartments - which would also make this property eligible for CMHC-backed financing! With over 142' of frontage on the future LRT route and a large 26-car parking lot behind it, this property occupies the majority of the city block, making it a strong future development opportunity as well. Extensively renovated, this property benefits from major facade updates including all-new retail glass, newer windows, roof, and high-efficiency boilers. The rear fire metal fire escape has just been rebuilt at substantial cost. The existing residential units are all 2-bedroom units and one 3-bed unit. With high ceilings, large windows, updated kitchens and bathrooms, on-site parking, and generous floor plans, these huge apartments are very appealing to tenants. The commercial units are all around 1000 sq ft and benefit from soaring ceilings, basements, and roll-out access to the rear parking lot. This property has been priced to sell - the opportunity for a capable buyer is truly compelling. (id:23309)
- Listing ID: X11970322
- Property Type: Multi-family
Schedule a Tour
Schedule Private Tour
Robert Bumelis would happily provide a private viewing if you would like to schedule a tour.
Match your Lifestyle with your Home
Contact Robert Bumelis, who specializes in Hamilton real estate, on how to match your lifestyle with your ideal home.
Get Started Now
Lifestyle Matchmaker
Let Robert Bumelis find a property to match your lifestyle.
Listing provided by Sotheby's International Realty Canada, Brokerage
MLS®, REALTOR®, and the associated logos are trademarks of the Canadian Real Estate Association.
This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 463-477 KING STREET E in Hamilton Ontario. It was last modified on February 12th, 2025. Contact Robert Bumelis to schedule a viewing or to discover other Hamilton real estate for sale.