• DESCRIPTION

    Great opportunity to own this carefully redeveloped 13 unit apartment building. 3 storey walkup with 12-1 bedroom units & 1-4 bedroom unit. Separate coin laundry room for all tenants. This building has seen great attention to detail with renovations in 8 of 13 units. New kitchens with quartz counter tops, stainless steel appliances, refinished original hardwood floors, restored character and charm throughout. This building is in demand and commands excellent rents with 1 bedrooms currently renting for $1325 plus hydro. Basement has been fully redeveloped into a luxury 5 bedroom unit and is rented to great tenants who utilize the basement commercial lease for their employees during short local stays. OPPORTUNITY 1: to renovate remaining 5 units and re-rent at $1,295 (or higher), resulting in income increase of $3,136 per month ($37,632 annual), equal to approx $640,000+ value lift, available to the new owner! OPPORTUNITY 2: 13 separate condo titles for each unit, offers buyer significantly lower land transfer taxes in addition to the option to sell individual units in future. Current gross income of $179,470 and a net operating income of $134,930. Offered at a 5.6 cap. rate. Located within walking distance to new LRT line and all transit options. A short walk to Gage park, Hamiltons largest city park. Financials available on request. Buy now and as cap rates decrease watch values increase. (id:5764)

    KEY DETAILS
    • Price:
    • $2,395,000
    • Bedrooms:
    • 0
    • Full Baths:
    • 0
    • Square Footage:
    • 9,117
    • Acreage:
    • n/a
    • Listing #:
    • H4048238
    • Street Address:
    • 41 Albert Street
    • City:
    • Hamilton
    • State:
    • ON
    • Postal Code:
    • L8M 2Y1
    • Listing Status:
    • For Sale - Active

    Building

    • Number Of Units:
    • 13
    • Stories:
    • 3
    • Style:
    • 3 Level, Multi-Unit
    • Total Building Square Footage:
    • 9117

    Land

    • Road Frontage:
    • 100 Ft

    Systems

    • Cooling System:
    • Central Air Conditioning
    • Has Central Air Conditioning:
    • Yes
    • Heating Fuel:
    • Natural Gas
    • Sewage Type:
    • Municipal Sewage System

    Source

    • Listing provided by Keller Williams Complete Realty

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    NOTES

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