ON > Hamilton
Hamilton, ON L8N 1V1,61 Young Street
Hamilton, ON L8N 1V1,61 Young Street
Hamilton, ON L8N 1V1,61 Young Street
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Gail Reeves Reid

Gail Reeves Reid

+1(416) 540-8681
$819,000
Est. payment /mo
2,920 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type Mixed,Building and Land

Listing Status Active

Purchase Type For Sale

Square Footage 2,920 sqft

Price per Sqft $280

MLS Listing ID 40720359

Abv Grd Liv Area 2,920

Originating Board Hamilton - Burlington

Annual Tax Amount $8,538

Property Sub-Type Mixed,Building and Land

Lot Depth 67.0

Lot Front 22.75

Property Description

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!

Location

Province ON

County Hamilton

Area 14 - Hamilton Centre

Zoning C5 Mixed Use Medium Density

Direction Situated on the northwest corner of Young Street and John Street South

Rooms

Basement Full

Kitchen 0

Interior

Fireplace No

Exterior

Lot Frontage 22.75

Lot Depth 67.0

Garage No

Building

Lot Description City Lot, High Traffic Area, Hospital, Public Transit, Visual Exposure

Faces Situated on the northwest corner of Young Street and John Street South

Story 3

Sewer Sewer (Municipal)

Water Municipal

Level or Stories 3

New Construction No

Others

Senior Community false

Tax ID 171730021

Ownership Freehold/None

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Listed by Sotheby's International Realty Canada

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agent

Gail Reeves Reid

+1(416) 540-8681

Broker | License ID: 9520476

Broker License ID: 9520476

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