$1,598,000

For saleJust listed

289 KENILWORTH Avenue North, Hamilton - Other for Sale

289 KENILWORTH Avenue North, Hamilton, Ontario, L8H4S8

4,200 ft²Listed 7 days ago

Overview

This other in Hamilton is for sale offering roughly 4,200 sq ft of space. It has been on the market 7 days, fresher than the Hamilton average of 65 days.

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Description

Incredible low-maintenance investment offered at a massive 6.8% cap rate even AFTER accounting for a vacancy allowance and repairs and maintenance! This fully-renovated, now fully-tenanted building is well-positioned for either the experienced or first-time investor. Includes 4 beautifully renovated apartments with great tenants, a fabulous new franchise QSR restaurant tenant on the ground floor, and a tenancy with a strong lease in the previously-vacant commercial unit. Additional income comes from rooftop billboards. In exceptional condition, this property comes with a recent, clean environmental. Plus, there are no parking spots, balconies, or elevators to maintain or cause issues! This is truly an exceptional opportunity for a strong, stable investment with a substantial, above-market return! (id:66096)

Property Details

MLS®: 40872441
Property Type: Other
Zoning: C5a
Interior Size: 4,200 ft²
Frontage: 65 ft
Building Area: 4,200 ft²
Storeys: 2
Basement: Full
Ownership: Freehold
Property Tax: $11,195/yr
Listed: 7 days ago

Services

Water: Municipal water
Sewer: Municipal sewage system

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

Hamilton listings, avg age

65d

Price / ft²

$380

List price

$1.60M

Haho

This other in Hamilton has been listed for 7 days, which is 58 days fresher than the city average of 65. Act while there is still low competition.

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Listed by Corcoran Horizon Realty · Martinus Geleynse

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L8H)

This home lists at $1,598,000, about 22.8× the local median household income of $70,000.

Carrying it typically needs a household income of about $312,145 (20% down, 25-yr amortization, stress-tested) — roughly 346% above the area median.

Median household income: $70,000
Population: 26,187
Median age: 40
Owner / renter: 66% / 34%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA L8H)

$1,598,000· $380/ft²

For sale

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