61 Young Street, Hamilton, ON L8N 1V1

Hamilton L8N 1V1 Ontario

MLS: X12098326

$819,000

Added 16 days ago | For Sale

Listed by: Sotheby's International Realty Canada, Brokerage

About Property

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!

Features

  • House Style:Store W Apt/Office
  • Bathrooms:
  • Land Size: 22.75 X 67
  • Water:Municipal
  • Garage Spaces: /None
  • Driveway:
  • Heating Fuel:
  • Cross Street:John Street South
  • Basement: ,
  • Possession Date:Flexible
  • Annual Property taxes: $8538
  • Bedrooms:
  • Total Parking Spaces:
  • Parking Places:
  • Heating Type:Gas Hot Water
  • Pool Type:
  • Exterior:
  • Direction Facing:
  • Front Footage:
  • Listing ID:X12098326

About Agent
Prabhjot Singh
REALTOR®
(905) 867-2666 info@housekarma.ca
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