Prime Downtown Development Gem & Income Producer •Unmissable Opportunity: Secure a high-performing asset with unparalleled future upside. This is a rare chance to acquire six side-by-side townhouses in a prime downtown location, offering immediate and significant cash flow from day one. •Zero-Friction Income: Enjoy a massive annual net operating income (NOI) of $131,456 (Gross Income: $149,892). Tenants cover all utilities directly, ensuring minimal landlord overhead. With 2 Vacant Units that can ben rented at market rent of $2100 each the CAP Rate reaches over 8%. •Ideal Units: Each unit is a desirable 3-bedroom townhome with a private, fenced backyard, attracting and retaining quality long-term tenants. •Immediate Access: Unit #171 is vacant and ready for viewing— see the potential for yourself. •Zoning already in place: The property already holds downtown zoning approval for an ambitious seven-story mixed-use development. Skip the complex initial rezoning phase and move straight to planning. •Expansion Ready: The buyer has the option to pursue severance to create six individual standalone properties, or inquire about acquiring neighboring properties (potentially the entire block) for a transformative large-scale project. •Vibrant Location: The surrounding area is a diverse, high-demand community, perfectly positioned for a dynamic Live-Work-Play concept that integrates modern residential units with ground-floor commercial space. •Act Now! Whether you're seeking a strong cash-flowing asset or a large-scale development platform, this property delivers (id:4069)
Address
167-177 WILSON Street
List Price
$1,799,900
Property Type
Multi-family
Type of Dwelling
Multi-family
Transaction Type
Sale
Area
Ontario
Sub-Area
Hamilton
Bedrooms
18
Bathrooms
6
Floor Area
6,288 Sq. Ft.
Lot Size
0.02 Sq. Ft.
MLS® Number
40792459
Listing Brokerage
Right at Home Realty
Basement Area
None
Postal Code
L8R1E3
Zoning
D5
Site Influences
Playground
