Close proximity to downtown Hamilton in 463-477 King, Hamilton

Close proximity to downtown Hamilton in 463-477 King, Hamilton

Welcome to an exceptional investment opportunity with this remarkable property for sale in Hamilton (Landsdale). Priced at $4,649,000, this expansive 17,800 square foot property stands as a beacon of potential, boasting a cap rate of over 6% based on current cash flow. With five commercial units currently vacant, the possibilities for generating revenue are boundless. Imagine transforming this space into thriving residential apartments or revitalized commercial units – the upside is immense!

Transformative Potential and Prime Location

Situated prominently with over 142 feet of frontage along the future LRT route, this property occupies the majority of a city block, making it a prime candidate for future development. The identified pathway for converting main floor retail units into up to 16 residential apartments opens the door to not only increased cash flow but also eligibility for CMHC-backed financing. The large 26-car parking lot behind the property ensures ample space for both residential and commercial tenants, enhancing its attractiveness in a growing neighborhood.

This property has undergone extensive renovations, featuring major facade updates that include all-new retail glass, newer windows, and a high-efficiency roof. The property is equipped with hot water radiator heat and natural gas, alongside partial air conditioning to ensure tenant comfort year-round. The rear fire metal escape has just been rebuilt at a significant cost, adding to the property’s safety and aesthetic appeal.

Attractive Living Spaces and Commercial Opportunities

The existing residential units are well-designed, with all two-bedroom apartments and one spacious three-bedroom unit. High ceilings and large windows fill these homes with natural light, while updated kitchens and bathrooms elevate the living experience. On-site parking and generous floor plans make these apartments incredibly appealing to potential tenants, ensuring low vacancy rates and steady rental income.

The commercial units, each around 1,000 square feet, feature soaring ceilings and access to basements and the rear parking lot, making them ideal for a variety of business ventures. This property is truly priced to sell, and for a capable buyer, the investment potential is compelling. Don’t miss out on the opportunity to own a pivotal piece of real estate in Hamilton (Landsdale). Schedule a viewing today to explore the possibilities that await you!