$3,999,999
Available - For Sale
Listing ID: X12490140
477 King Street East , Hamilton, L8N 1C7, Hamilton
| Prime Investment with Huge Upside! This property already delivers an impressive 6.34% cap rate on in-place income - and that's without counting the five vacant commercial units. Active negotiations on three of those spaces are underway, pushing projected returns to 7.5%+ once leased. The upside here is undeniable. Positioned with over 142 feet of frontage along the future LRT route, and backed by a 26-car parking lot spanning nearly an entire city block, this asset combines strong income performance with outstanding redevelopment potential. Extensively renovated, it showcases a refreshed façade with new retail glass, newer windows and roof, high-efficiency boilers, and a fully rebuilt metal fire escape - representing major capital work already completed. The residential suites feature spacious two-bedroom layouts plus one three-bedroom, all with high ceilings, large windows, updated kitchens and baths, on-site parking, and generous floor plans that consistently attract quality tenants. The commercial spaces (approx. 1,000 sq. ft. each) boast soaring ceilings, full basements, and direct roll-out access to the rear lot - ideal for a wide variety of uses. A recent clean Phase I Environmental Study is on hand. Aggressively priced to sell, this is a rare opportunity for a savvy investor or developer seeking strong cash flow today, tremendous upside tomorrow, and unbeatable positioning along a rapidly evolving urban corridor. |
| Price | $3,999,999 |
| Taxes: | $94575.00 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 477 King Street East , Hamilton, L8N 1C7, Hamilton |
| Postal Code: | L8N 1C7 |
| Province/State: | Hamilton |
| Legal Description: | Lts 2, 3 & 4, Pl 99 ; S/T Interest(S) In |
| Directions/Cross Streets: | Victoria Avenue North |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 0 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 |
| Category: | Multi-Use |
| Building Percentage: | F |
| Total Area: | 20385.00 |
| Total Area Code: | Square Feet |
| Office/Appartment Area: | 12337 |
| Office/Appartment Area Code: | Sq Ft |
| Retail Area Code: | Sq Ft |
| Area Influences: | Public Transit |
| Sprinklers: | No |
| Washrooms: | 0 |
| Heat Type: | Gas Hot Water |
| Central Air Conditioning: | Partial |
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| Corcoran Horizon Realty |
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|
Nikki Shahebrahim
Broker
Dir:
647-830-7200
Bus:
905-597-0800
Fax:
905-597-0868
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Commercial Retail |
| Area: | Hamilton |
| Municipality: | Hamilton |
| Neighbourhood: | Landsdale |
| Tax: | $94,575 |
| Fireplace: | N |
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