229 PARKDALE Avenue N, Hamilton, Ontario, L8H5X4

Property Description

Excellent mixed-use investment opportunity in a high-visibility location at 229 Parkdale Ave N in Hamilton. This versatile property features a commercial storefront at the front along with three 1-bedroom residential units, offering multiple income streams and strong upside potential for investors or owner-operators. The property benefits from convenient on-site parking located at the side and rear of the building, a rare and valuable feature in this area. Positioned along a busy corridor, the commercial unit enjoys excellent exposure and accessibility, making it ideal for a variety of business uses. Currently, one of the residential units is tenanted at $1,400 per month, with hydro and gas shared among the units. The tenant is actively seeking alternative accommodations, presenting a near-term opportunity for the buyer to set new market rents or occupy the unit. The remaining units and commercial space offer significant potential for lease-up or repositioning to maximize income. The building is serviced by one hydro meter and one gas meter, providing an opportunity for future optimization. Ideal for investors looking to add value through renovations, improved management, or full occupancy. Located close to major routes, public transit, and amenities, this is a rare opportunity to acquire a mixed-use property in a growing area with long-term potential. (id:64974)

Quick Facts

• Property Type: Other
• Bedrooms: None
• Bathrooms: None
• Living Area: 1,513 sq ft (140.6 m²)
• Ownership: Freehold
• Parking: 5.0 spaces
• Frontage: 37 ft (11.3 m)

Costs

• Annual Taxes: $4,100.05

Listing Provided by: Royal LePage NRC Realty Inc.
Board: Cornerstone Association of REALTORS®
Data provided via CREA DDF®.