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This high-exposure corner property offers a low-maintenance investment with strong returns. With two spacious 1-bed apartments on the upper two floors and an established restaurant on the main floor, this high-visibility, high-demand location benefits from immediate proximity to the GO Station, public transit, St. Joseph's Hospital, and multiple new residential developments. The second floor apartment is tenanted until September, and the third floor apartment has been left vacant for the sale process; having also been recently updated with new windows. Despite all rents being below market value, this property is being offered at a 6.5% cap rate (once 2nd floor is tenanted). Once fully tenanted at market rates, this should be closer to an 8% cap! This is an excellent opportunity to acquire an affordable investment property in the heart of Hamilton's thriving southern downtown area! (id:51158)
| MLS® Number | X12098326 |
| Property Type | Retail |
| Community Name | Corktown |
| Amenities Near By | Public Transit |
| Cooling Type | Partially Air Conditioned |
| Heating Fuel | Natural Gas |
| Heating Type | Hot Water Radiator Heat |
| Size Interior | 2920 Sqft |
| Type | Residential Commercial Mix |
| Utility Water | Municipal Water |
| Acreage | No |
| Land Amenities | Public Transit |
| Sewer | Sanitary Sewer |
| Size Depth | 67 Ft |
| Size Frontage | 22 Ft ,9 In |
| Size Irregular | 22.75 X 67 Ft |
| Size Total Text | 22.75 X 67 Ft |
| Zoning Description | C5 Mixed Use Medium Density |
https://www.realtor.ca/real-estate/28202276/61-young-street-hamilton-corktown-corktown
Get More info About:61 Young Street Hamilton (Corktown), Mls# X12098326
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