61 Young ST new Save Request In-Person Tour Request Virtual Tour
Hamilton,ON L8N 1V1
Key Details
Property Type Commercial
Sub Type Store W Apt/Office
Listing Status Active
Purchase Type For Sale
Square Footage 2,920 sqft
Price per Sqft $280
Subdivision Corktown
MLS Listing ID X12098326
Annual Tax Amount $8,538
Tax Year 2024
Property Sub-Type Store W Apt/Office
Property Description
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!
Location
Province ON
County Hamilton
Community Corktown
Area Hamilton
Interior
Cooling Partial
Exterior
Community Features Public Transit
Utilities Available Yes
Lot Frontage 22.75
Lot Depth 67.0
Others
Security Features No