167-177 WILSON Street, Hamilton, Ontario, L8R1E3

Property Description

Prime Downtown Development Gem & Income Producer •Unmissable Opportunity: Secure a high-performing asset with unparalleled future upside. This is a rare chance to acquire six side-by-side townhouses in a prime downtown location, offering immediate and significant cash flow from day one. •Zero-Friction Income: Enjoy a massive annual net operating income (NOI) of $131,456 (Gross Income: $149,892). Tenants cover all utilities directly, ensuring minimal landlord overhead. With 2 Vacant Units that can ben rented at market rent of $2100 each the CAP Rate reaches over 8%. •Ideal Units: Each unit is a desirable 3-bedroom townhome with a private, fenced backyard, attracting and retaining quality long-term tenants. •Immediate Access: Unit #171 is vacant and ready for viewing— see the potential for yourself. •Zoning already in place: The property already holds downtown zoning approval for an ambitious seven-story mixed-use development. Skip the complex initial rezoning phase and move straight to planning. •Expansion Ready: The buyer has the option to pursue severance to create six individual standalone properties, or inquire about acquiring neighboring properties (potentially the entire block) for a transformative large-scale project. •Vibrant Location: The surrounding area is a diverse, high-demand community, perfectly positioned for a dynamic Live-Work-Play concept that integrates modern residential units with ground-floor commercial space. •Act Now! Whether you're seeking a strong cash-flowing asset or a large-scale development platform, this property delivers (id:64974)

Quick Facts

• Property Type: Multi-family
• Bedrooms: 18
• Bathrooms: 6
• Living Area: 6,288 sq ft (584.2 m²)
• Above Grade: 6,288 sq ft (584.2 m²)
• Ownership: Freehold
• Lot Size: 0.0200 acres (0.01 ha)
• Frontage: 16 ft (4.9 m)

Costs

• Annual Taxes: $8,141.00

Listing Provided by: Right at Home Realty
Board: Cornerstone Association of REALTORS®
Data provided via CREA DDF®.