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SaleInvestment

45 Wellington Street N

Hamilton, ON L8R 1M9

Price

$2,500,000

Building Size

4,763 sq ft

Lot: 1,937 sq ft

MLS# X13787708 | Listed by REVEL REALTY INC.

Business Details

Business Type

Apts - 6 To 12 Units

Property Use

Apartment

Franchise

No

Commercial Space & Financials

Retail Area

1,000 sq ft

Office / Apt Area

600 sq ft

Taxes (Annual)

$15,000

Industrial Specifications

Parking

2 spaces (None)

Lot Size

30.18' × 54.75'

Structure

Freestanding

Property Description

INVESTMENT OPPORTUNITY | 7 MIXED-USE UNITS | 5.62% CAP RATE | $175,740 SCHEDULED ANNUAL GROSS INCOME. 45 Wellington Street N presents a rare opportunity to acquire a fully converted, income-producing mixed-use property featuring 5 residential units, 2 commercial units and additional storage income, creating a diversified revenue stream in one of Hamilton's rapidly evolving urban corridors.Fully tenanted, the property generates approximately $14,645/month in scheduled gross income, or $175,740 annually, and is offered at an attractive 5.62% capitalization rate.Extensive capital improvements include updated HVAC, plumbing and electrical systems, framing and insulation, spray foam insulation, separate hydro metering, roof and windows, on-site parking, a new garden suite, new walk-in cooler and water-powered metal fire escape, plus numerous additional upgrades.Potential financing opportunity: positioned for a potential $2M CMHC take-out under 100-point MLI Select, incorporating affordability and energy-efficiency considerations, with an estimated 9.6% cash-on-cash return, including the applicable default insurance premium.Strategically located near major transit, established amenities, employment centres and significant ongoing redevelopment, the property is well positioned to benefit from Hamilton's continued urban intensification and growth.D1 zoning provides flexibility and additional future opportunity. With diversified income, extensive improvements, an attractive cap rate and potential CMHC financing strategy, 45 Wellington Street N offers investors a compelling opportunity for current cash flow and long-term value creation.A distinctive Hamilton investment property offering scale, income and significant future potential.

Price & Status History

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Location

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45 Wellington Street N, Hamilton L8R 1M9

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Listing Courtesy of: REVEL REALTY INC.

This listing is provided through the TRREB MLS® System. Contact the listing brokerage for more information.

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