ON > Hamilton
Hamilton, ON L8N 1C7,463-477 King Street E
Hamilton, ON L8N 1C7,463-477 King Street E
Hamilton, ON L8N 1C7,463-477 King Street E
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Isaac Rosebrugh

Isaac Rosebrugh

+1(519) 754-6611
Listed by Martinus Geleynse • Sotheby's International Realty Canada
$4,649,000
Est. payment /mo
17,800 SqFt
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UPDATED:

02/13/2025 07:32 PM

Key Details

Property Type Commercial

Sub Type Mixed,Building and Land

Listing Status Active

Purchase Type For Sale

Square Footage 17,800 sqft

Price per Sqft $261

MLS Listing ID 40698149

Abv Grd Liv Area 17,800

Originating Board Hamilton - Burlington

Annual Tax Amount $60,972

Property Sub-Type Mixed,Building and Land

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 also 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. Seller has a clean Phase I ESA from October 2023. This property has been priced to sell - the opportunity for a capable buyer is truly compelling.

Location

Province ON

County Hamilton

Area 14 - Hamilton Centre

Zoning Mixed Use Transit Oriented Corridor

Direction On the north side of King Street East between Victoria Ave N and Emerald St N

Rooms

Basement Full

Kitchen 0

Interior

Fireplace No

Exterior

Parking Features Detached Garage, Asphalt

Garage Spaces 1.0

Lot Frontage 143.0

Lot Depth 125.0

Garage No

Building

Lot Description Ample Parking, City Lot, High Traffic Area, Public Transit, Visual Exposure

Faces On the north side of King Street East between Victoria Ave N and Emerald St N

Story 3

Sewer Sewer (Municipal)

Water Municipal

Structure Type Brick,Metal/Steel Siding,Vinyl Siding

New Construction No

Others

Senior Community No

Tax ID 171790170

Ownership Freehold/None

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Isaac Rosebrugh

+1(519) 754-6611

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