New Listing
1539-1547 Barton Street E,Hamilton, ON L8H2X7
Hamilton, ON L8H2X7
Description
A strong opportunity to acquire a professionally managed 16-unit residential apartment property priced at a 6% cap rate; offering an attractive combination of strong current yield, stable operations and meaningful upside. The suite mix includes 14 two-bedroom apartments and two one-bedroom apartments, with approximately 11 of the 16 units updated to varying degrees by current ownership. Several remaining suites offer further renovation potential, while a number of existing rents - including some materially below market - provide clear opportunity for income growth over time. The property is a solid, relatively low-maintenance multi-residential asset with a substantial paved parking area at the rear. It has been professionally managed for years and offers buyers a straightforward addition to an existing residential portfolio. Located in the edge of Hamilton's east end, the property is surrounded by everyday amenities including grocery, shopping, restaurants, services and transit, with convenient access to the Red Hill Valley Parkway and QEW. The property delivers compelling in-place income with the added benefit of CMHC financing potential and multiple avenues for long-term value creation. For investors seeking scale, strong yield and embedded rental upside in a pure residential asset, this is a particularly attractive offering. (id:13843)
Details
| MLS # | 40872450 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 2 |
| Listing Provided By | Corcoran Horizon Realty | Martinus Dominicus Geleynse |
Features
| Bed(s) | 1 |
|---|---|
| SQ Feet | 25,860 |
| Basement | Y |
| Story(s) | 2 |
| Units | 16 |
| Zoning | R4 - Midrise Residential |
Interior
| Heating | Baseboard heaters, Radiant heat |
|---|---|
| Fireplace Yes / No | No |
Parking
| Parking Features | Open |
|---|---|
| Parking Total | 11 |
Utilities
| Sewer | Municipal sewage system |
|---|---|
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 37196 |
|---|
Area Information
| Province | ON |
|---|---|
| City | Hamilton |
| Postal Code | L8H2X7 |
| Community Name | 231 Homeside |
| Listing VS Median (in 231 Homeside) | |
Price: $2,988,000 low | high Med: $489,000 sqft: 25,860 low | high Med: 1,151 $ / sqft: $116 low | high Med: $425 On site: 2 low | high Med: 6 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Hamilton |
| Postal Code | L8H2X7 |
| Community Name | 231 Homeside |
| Listing VS Median (in 231 Homeside) | |
Price: $2,988,000 low | high Med: $489,000 sqft: 25,860 low | high Med: 1,151 $ / sqft: $116 low | high Med: $425 On site: 2 low | high Med: 6 | |