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!
Sotheby's International Realty Canada
$819,000
61 Young Street, Hamilton, Ontario
0 Bedrooms
2920 Sqft
Property
MLS® Number: 40720359
Address: 61 Young Street
City: Hamilton
Lot Size: 67.0ft x 22.75ft
This listing content provided by REALTOR.ca has been licensed by REALTOR® members of The Canadian Real Estate Association.
Property Sale History
Travel and Neighbourhood
99/100Walk Score®
Walker's Paradise
Location
