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Listed by Abdellah Majd • Revel Realty Inc.
$ 2,500,000
Est. payment /mo
Active
45 Wellington Street N Hamilton, ON L8R 1M9
4,763 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Building and Land
Listing Status Active
Purchase Type For Sale
Square Footage 4,763 sqft
Price per Sqft $524
MLS Listing ID 40863603
Abv Grd Liv Area 4,763
Annual Tax Amount $15,000
Property Sub-Type Building and Land
Source Cornerstone
Property Description
INVESTMENT OPPORTUNITY — $2,500,000 | 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.
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.
Location
Province ON
County Hamilton
Area 14 - Hamilton Centre
Zoning D1
Direction Wellington St N & King William St
Rooms
Basement Full
Kitchen 0
Interior
Fireplace No
Exterior
Street Surface Paved
Lot Frontage 30.17
Lot Depth 64.42
Garage No
Building
Lot Description Rectangular, City Lot, Public Transit
Faces Wellington St N & King William St
Story 3
Sewer Sewer (Municipal)
Water Municipal
Structure Type Brick
New Construction No
Others
Senior Community No
Tax ID 171680137
Ownership Freehold/None
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