463-477 KING Street E, Hamilton, Ontario, L8N1C7
Sales Representative
RE/MAX Country Lakes Realty Inc. Brokerage
Cell: 905-922-5275
Tel: 705-426-2905
$5,499,000 - For sale
This ideally-positioned asset offers tremendous cashflow value with strong future upside! With over 142' of frontage on the LRT route and a large 26-car parking lot behind it, this property occupies the majority of the city block. Sporting both this significant frontage and rear alley access, 463-477 King also offers extensive future development opportunity. Meanwhile, the existing 8 retail units, 16 residential units, coin laundry, and parking rentals offer strong multi-stream cashflow. Extensively renovated, this property benefits from major facade updates including all-new retail glass, newer windows, roof, and high-efficiency boilers. Strong NOI that continues climbing as commercial units lease up, with 3 commercial units still available! It therefore offers easily-capturable upside in the form of the vacant commercial. The residential units offer excellent and stable cashflow while also offering upside as units become available. Offering an over 5% cap rate based on present NOI, this beautiful property is in excellent condition and will continue to climb in value as rents rise and the neighbourhood continues to redevelop with LRT implementation. Don't miss this spectacular investment for both short-term and long-term benefit. (id:2471)
Location DescriptionOn the north side of King Street East between Victoria Ave N and Emerald St N
- Property Address:463-477 KING Street E, Hamilton, Ontario, L8N1C7
- Property Type:Other
- Title:Freehold
- Sewage Type:Sanitary sewer, Storm sewer
- Water Type:Municipal water
- Driveway:Detached Garage
- Parking Space Total:26
- Heating Type:Radiant heat, Hot water radiator heat
- Storeys:3
- Basement Type:Full (Unfinished)
- Cooling Type:Ductless
- Exterior Type:Brick, Metal, Vinyl siding
- Amenities Nearby:Public Transit, Schools
Sales Representative
RE/MAX Country Lakes Realty Inc. Brokerage
Cell: 905-922-5275
Tel: 705-426-2905
MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association. This REALTOR.ca listing content is owned and licensed by REALTOR® members of The Canadian Real Estate Association.
- Map 463-477 KING Street E, Hamilton, Ontario, L8N1C7
- Neighbourhood Information
463-477 KING Street E, Hamilton, Ontario, L8N1C7
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