45 Wellington Street N Hamilton, ON L8R 1M9
5 Beds
5 Baths
4,763 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-6-9 Unit
Listing Status Active
Purchase Type For Sale
Square Footage 4,763 sqft
Price per Sqft $524
MLS Listing ID 40863615
Bedrooms 5
Abv Grd Liv Area 4,763
Annual Tax Amount $15,000
Property Sub-Type Multi-6-9 Unit
Source Cornerstone
Property Description
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 13 - Hamilton Centre
Zoning D1
Direction From the 403 Proceed West to John St, Left on Wilson, Right on Wellington St North
Rooms
Basement Full, Unfinished
Kitchen 0
Interior
Interior Features Built-In Appliances
Heating Electric
Cooling Ductless
Fireplace No
Appliance Refrigerator, Stove
Laundry Shared
Exterior
Roof Type Asphalt Shing
Lot Frontage 30.18
Lot Depth 54.75
Garage No
Building
Lot Description Rectangular, City Lot, Public Transit
Faces From the 403 Proceed West to John St, Left on Wilson, Right on Wellington St North
Story 3
Sewer Sewer (Municipal)
Water Municipal
Level or Stories 3
Structure Type Brick
New Construction No
Schools
Elementary Schools Dr. J. Edgar Davey Public School
High Schools Bernie Custis Secondary School
Others
Senior Community No
Tax ID 171680137
Ownership Freehold/None
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