$1,489,000

For sale

571 KING Street East, Hamilton - Other for Sale

571 KING Street East, Hamilton, Ontario, L8L5N3

5,544 ft²Listed 14 days ago

Overview

This other in Hamilton is for sale offering roughly 5,544 sq ft of space. It has been on the market 14 days, fresher than the Hamilton average of 65 days.

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Description

Significantly renovated mixed-use investment property on Hamilton's future LRT corridor! Offering 5,544 sq. ft. above grade, this exceptionally well-maintained, two-storey building underwent an extensive, near-total renovation in 2019–2020 and features three 1-bedroom residential apartments and three ground-floor retail storefronts, two of which are currently combined into one commercial unit. A full, usable basement provides substantial additional storage, while a rear fire escape adds further functionality. Offered at an attractive 6.2% cap rate, reflecting the significant capital investment already undertaken, this is an opportunity to acquire a substantially improved asset with diversified residential and commercial income. Situated on King Street East, directly along the planned Hamilton LRT route, the property is exceptionally well positioned to benefit from future transit investment, neighbourhood revitalization, and long-term growth. An appealing opportunity for investors seeking quality construction, current income, and meaningful future upside. (id:66096)

Property Details

MLS®: 40872439
Property Type: Other
Zoning: TOC1
Interior Size: 5,544 ft²
Frontage: 49 ft
Building Area: 5,544 ft²
Storeys: 2
Basement: Full
Ownership: Freehold
Property Tax: $11,553/yr
Listed: 14 days ago

Services

Water: Municipal water
Sewer: Municipal sewage system

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

14d

Hamilton listings, avg age

65d

Price / ft²

$269

List price

$1.49M

Haho

This other in Hamilton has been listed for 14 days, which is 51 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 (L8L)

This home lists at $1,489,000, about 22.9× the local median household income of $65,000.

Carrying it typically needs a household income of about $290,854 (20% down, 25-yr amortization, stress-tested) — roughly 347% above the area median.

Median household income: $65,000
Population: 32,312
Median age: 36.4
Owner / renter: 52% / 48%
Avg. household size: 2.4

Source: Statistics Canada, 2021 Census (FSA L8L)

$1,489,000· $269/ft²

For sale

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