983 Main Street E, Hamilton, ON L8M 1N3 (Main and East Bend)

Price : $2,799,999.00 , MLS®# : X13494508

Description

18-suite apartment building located along Hamilton's Main Street East corridor. The property features a suite mix of 12 two-bedroom units, 4 one-bedroom units, and 2 one-bedroom-plus-den units. The asset benefits from separately metered hydro with tenants paying their own electricity and on-site laundry income. Recent capital improvements including upgrades to the boilers and roof. In-place rents are below market 15-20%. Purchasers should note that the current level of vacancy (7) may impact the availability and terms of CMHC financing until the vacant suites are leased and stabilized. 3 storey walk up frame building dating from the 1920's. $155,000 per suite and a 5.7% cap rate.

Location Description

Main and East Bend

Property Details
  • Community: Crown Point
  • Property Type: Tenant/Commercial
  • Bath: 18
  • Garages: None
  • Annual Property Taxes : $ 41800
Building Features
  • Parking Type : None
Building Features
  • Heating : Gas Hot Water
  • Sewer : Sanitary+Storm ,
Land (Lot Features)
  • Frontage: 70 sq.ft
  • Land Depth: 110sq.ft

Listing Contracted With: COMMERCIAL FOCUS REALTY INC.