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. (id:4069)
Address
45 WELLINGTON Street N
List Price
$2,500,000
Property Type
Other
Type of Dwelling
Residential Commercial Mix
Transaction Type
Sale
Area
Ontario
Sub-Area
Hamilton
Floor Area
4,763 Sq. Ft.
Lot Depth
64 ft
Frontage Length
30 ft
MLS® Number
40863603
Listing Brokerage
Revel Realty Inc.
Basement Area
Full
Postal Code
L8R1M9
Zoning
D1
Ownership
Freehold
Parking Places (Total)
4
Site Influences
Public Transit
Number Of Floors In Building
3
Water Source
Municipal water
Access To Property
Road access
Sewer
Municipal sewage system
