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$ 2,988,000
Est. payment | /mo
1 Bed
25,860 SqFt
$ 2,988,000
Est. payment | /mo
1 Bed
25,860 SqFt
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Approx. Sqft 25860
Square Footage 25,860 sqft
Price per Sqft $115
Subdivision 231 - Homeside
MLS® Listing ID 40872450
Bedrooms 1
Property Sub-Type Freehold
Property Description
A strong opportunity to acquire a professionally managed 16-unit residential apartment property priced at a 6% cap rate; offering an attractive combination of strong current yield, stable operations and meaningful upside. The suite mix includes 14 two-bedroom apartments and two one-bedroom apartments, with approximately 11 of the 16 units updated to varying degrees by current ownership. Several remaining suites offer further renovation potential, while a number of existing rents — including some materially below market — provide clear opportunity for income growth over time. The property is a solid, relatively low-maintenance multi-residential asset with a substantial paved parking area at the rear. It has been professionally managed for years and offers buyers a straightforward addition to an existing residential portfolio. Located in the edge of Hamilton's east end, the property is surrounded by everyday amenities including grocery, shopping, restaurants, services and transit, with convenient access to the Red Hill Valley Parkway and QEW. The property delivers compelling in-place income with the added benefit of CMHC financing potential and multiple avenues for long-term value creation. For investors seeking scale, strong yield and embedded rental upside in a pure residential asset, this is a particularly attractive offering. (id:24570)
Location
State ON
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters, Radiant heat
Exterior
Parking Features No
Community Features High Traffic Area
View Y/N No
Attached Garage No
Total Parking Spaces 11
Garage No
Private Pool No
Building
Story 2
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by Corcoran Horizon Realty
Nearby Locations
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