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Saturday, May 18th, 2024

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$8,285,000
Available - For Sale
Listing ID: X8271812
Rare and spectacular investment opportunity offered at a true 6.7% cap rate and only $230k per unit! This fully-rebuilt property is comprised of 36 beautiful apartments (24 X 1-bed, 12 X 2-bed) in two buildings. All units are separately metered for hydro and water, so the landlord pays nothing but house hydro! Completely rebuilt with permits in the last 5 years, this low-maintenance property boasts new plumbing, electrical, HVAC, kitchens, bathrooms, windows, fire and security systems, roof, and more! No elevators, parking lots, or balconies to worry about. Just enjoy the incredible cashflow and strong appreciation. Further upside may be realized by renting the new storage lockers to tenants. Situated on the future LRT transit route, this beautiful property is close to everything. Full data room is available for easy diligence - including a recent clean Phase 1 Environmental. This fully-leased property is being offered at this price for a very limited time for a quick sale. This will sell quickly - it is the best value on the market today!
Price $8,285,000
Taxes: $70,037
Tax Type: Annual
Occupancy by: Tenant
Address: 540 King St East , Hamilton, L8N 1E2, Ontario
Postal Code: L8N 1E2
Province/State: Ontario
Lot Size: 120 x 128.42 (Feet)
Directions/Cross Streets: Tisdale St. S. & King St. E.
Zoning: TOC1
Category: Apartment
Use: Apts-Over 20 Units
Building Percentage: Y
Total Area: 26,436
Total Area Code:  Sq Ft
Area Influences: Public Transit  
Financial Statement: Y
Expenses Actual/Estimated: $Act
Heat Type: Elec Forced Air
Central Air Conditioning: Y
Elevator Lift: None
Water: Municipal
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Asking Price: $ Heating: $ /Year  
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SOTHEBY`S INTERNATIONAL REALTY CANADA

540 King St East , Hamilton, L8N 1E2, Ontario

Evelina Branitsky
Sales Representative
Dir:
647.888.9606
Bus:
416.739.7200
Fax:
416.739.9367

 
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At a Glance:
Type: Com - Investment
Area: Hamilton
Municipality: Hamilton
Neighbourhood: Landsdale
Style:
Lot Size: 120.00 x 128.42(Feet)
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Tax: $70,037
Maintenance Fee: $0
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Evelina Branitsky Sales Representative pic ebranitsky@rogers.com Sutton Group- Admiral Realty Inc., Brokerage Independently owned and operated. pic 1881 Steeles Avenue West, Toronto, Ontario M3H5Y4 pic Dir: 647.888.9606 | Office: 416.739.7200 | Fax: 416.739.9367 Personal Pic

ebranitsky@rogers.com