$3,079,000
Available - For Sale
Listing ID: X13761316
1539-15 Barton Street East , Hamilton, L8H 2X7, Hamilton
| A strong opportunity to acquire a professionally managed 16-unit residential apartment property 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. Offered at a current capitalization rate just under 6%, 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. |
| Price | $3,079,000 |
| Taxes: | $37196.00 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 1539-15 Barton Street East , Hamilton, L8H 2X7, Hamilton |
| Postal Code: | L8H 2X7 |
| Province/State: | Hamilton |
| Directions/Cross Streets: | Barton St. E. & Paling Ave. |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Apartment |
| Use: | Apts - 13 To 20 Units |
| Building Percentage: | T |
| Total Area: | 25860.00 |
| Total Area Code: | Square Feet |
| Financial Statement: | T |
| Washrooms: | 0 |
| Heat Type: | Electric Hot Water |
| Central Air Conditioning: | No |
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| Corcoran Horizon Realty |
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Paul Sanghera
Sales Representative
Dir:
416.877.3047
Bus:
905-333-3500
Fax:
905-333-3616
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Investment |
| Area: | Hamilton |
| Municipality: | Hamilton |
| Neighbourhood: | Homeside |
| Tax: | $37,196 |
| Fireplace: | N |
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