Jag Patel
Broker
$2,800,000
Available - For Sale
Listing ID: X13464440
45 Wellington Street North , Hamilton, L8R 1M9, Hamilton
| Brand new mixed-use investment opportunity in the heart of Hamilton's rapidly transforming urban core. This fully converted 7-unit asset is zoned D1 and strategically positioned steps from a major transit corridor, significant intensification projects, and numerous existing and proposed condominium developments.The property comprises 5 residential units and 2 commercial units, including 3 rare loft-style residential floor plans that offer a highly desirable blend of character, functionality, and modern design rarely found in purpose-built rental inventory.Offered with assumable CMHC MLI Select financing featuring a 5-year term at 4.13% interest (potentially lower subject to lender approval) and an attractive 50-year amortization, creating exceptional cash flow and long-term financing stability.The property has undergone a comprehensive transformation with virtually all major infrastructure replaced, including electrical, plumbing, HVAC, framing, and insulation. Additional features include all split-unit heating and cooling systems, 8 separate hydro meters (including house meter), a brand-new galvanized powder-coated metal fire escape, 2018 roof, 2021 windows, and 4 on-site parking spaces.Offered at a 4.63% capitalization rate inclusive of taxes, insurance, common utilities, vacancy allowance, property management, and maintenance expenses. Enjoy close to $35,000 in annual positive cash flow. A rare opportunity to acquire a turnkey, institutionally financed mixed-use asset in one of Hamilton's most active growth corridors with strong in-place income and significant long-term appreciation potential. |
| Price | $2,800,000 |
| Taxes: | $12647.00 |
| Tax Type: | Annual |
| Occupancy: | Owner+T |
| Address: | 45 Wellington Street North , Hamilton, L8R 1M9, Hamilton |
| Postal Code: | L8R 1M9 |
| Province/State: | Hamilton |
| Legal Description: | Pt Lt 20-21 Pl 36 As In Ab346513; City O |
| Directions/Cross Streets: | Wellington St. N/King William |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Apartment |
| Use: | Apts - 6 To 12 Units |
| Building Percentage: | T |
| Total Area: | 4763.00 |
| Total Area Code: | Square Feet |
| Office/Appartment Area: | 600 |
| Office/Appartment Area Code: | Sq Ft |
| Office/Appartment Area Code: | % |
| Retail Area Code: | Sq Ft |
| Area Influences: | Public Transit |
| Approximatly Age: | 100+ |
| Franchise: | F |
| Sprinklers: | Part |
| Washrooms: | 0 |
| Outside Storage: | F |
| Rail: | N |
| Soil Test: | No |
| Truck Level Shipping Doors #: | 0 |
| Double Man Shipping Doors #: | 0 |
| Drive-In Level Shipping Doors #: | 0 |
| Grade Level Shipping Doors #: | 0 |
| Heat Type: | Electric Forced Air |
| Central Air Conditioning: | Partial |
| Sewers: | Sanitary+Storm |
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| REVEL REALTY INC. |
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Jag Patel
Broker
Dir:
416-671-5246
Bus:
416-289-3000
Fax:
416-289-3008
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Investment |
| Area: | Hamilton |
| Municipality: | Hamilton |
| Neighbourhood: | Beasley |
| Approximate Age: | 100+ |
| Tax: | $12,647 |
| Fireplace: | N |
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