ON > Hamilton > Landsdale
Hamilton, ON L8N 1C7,463-477 King ST E
Hamilton, ON L8N 1C7,463-477 King ST E
Hamilton, ON L8N 1C7,463-477 King ST E
Hamilton, ON L8N 1C7,463-477 King ST E
Hamilton, ON L8N 1C7,463-477 King ST E
Hamilton, ON L8N 1C7,463-477 King ST E
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Fawad Nissari

Fawad Nissari

eXp Realty

+1(416) 878-1085
$ 4,649,000
Est. payment | /mo

19 Baths

17,800 SqFt

Save
$ 4,649,000
Est. payment | /mo
Save

19 Baths

17,800 SqFt

Key Details

Property Type Commercial

Sub Type Investment

Listing Status Active

Purchase Type For Sale

Square Footage 17,800 sqft

Price per Sqft $261

Subdivision Landsdale

MLS Listing ID X11970322

Annual Tax Amount $60,972

Tax Year 2024

Property Sub-Type Investment

Property Description

This exceptional investment is listed at over a 6% cap rate based on in-place cash flow with five commercial units vacant: imagine the upside! Additionally, a path has been identified for the conversion of main floor retail units to up to new 16 residential apartments - which would also make this property eligible for CMHC-backed financing! With over 142' of frontage on the future LRT route and a large 26-car parking lot behind it, this property occupies the majority of the city block, making it a strong future development opportunity as well. Extensively renovated, this property benefits from major facade updates including all-new retail glass, newer windows, roof, and high-efficiency boilers. The rear fire metal fire escape has just been rebuilt at substantial cost. The existing residential units are all 2-bedroom units and one 3-bed unit. With high ceilings, large windows, updated kitchens and bathrooms, on-site parking, and generous floor plans, these huge apartments are very appealing to tenants. The commercial units are all around 1000 sq ft and benefit from soaring ceilings, basements, and roll-out access to the rear parking lot. This property has been priced to sell - the opportunity for a capable buyer is truly compelling.

Location

Province ON

County Hamilton

Community Landsdale

Area Hamilton

Interior

Heating Yes

Cooling Partial

Exterior

Community Features Public Transit

Utilities Available Yes

Lot Frontage 143.0

Lot Depth 125.0

Listed by Sotheby's International Realty Canada, Brokerage
agent-avatar

When it comes to Real Estate, it's not just a transaction; it's a relationship built on trust and honesty. I understand that buying or selling a home is one of the most significant financial decisions you will make in your lifetime, and that's why I take my role very seriously. I make it my mission to ensure that my clients are well informed and comfortable with the process every step of the way.

+1(416) 878-1085

fawad.nissari@exprealty.com

420 Main St E Unit 556, Milton, ON, L9T 5G3, CAN

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