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$ 819,000
Est. payment | /mo
2,920 SqFt
$ 819,000
Est. payment | /mo
2,920 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 2,920 sqft
Price per Sqft $280
Subdivision Corktown
MLS® Listing ID X12098326
Source The Oakville, Milton & District Real Estate Board
Property Description
This high-exposure corner property offers a low-maintenance investment with strong returns. With two spacious 1-bed apartments on the upper two floors and an established restaurant on the main floor, this high-visibility, high-demand location benefits from immediate proximity to the GO Station, public transit, St. Joseph's Hospital, and multiple new residential developments. The second floor apartment is tenanted until September, and the third floor apartment has been left vacant for the sale process; having also been recently updated with new windows. Despite all rents being below market value, this property is being offered at a 6.5% cap rate (once 2nd floor is tenanted). Once fully tenanted at market rates, this should be closer to an 8% cap! This is an excellent opportunity to acquire an affordable investment property in the heart of Hamilton's thriving southern downtown area! (id:24570)
Location
State ON
Rooms
Kitchen 0.0
Interior
Heating Hot water radiator heat
Cooling Partially air conditioned
Exterior
Parking Features No
View Y/N No
Private Pool No
Building
Sewer Sanitary sewer
Listed by Sotheby's International Realty Canada, Brokerage
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