Investment Commercial Building for Sale

MLS# H4146333 Price: $1,099,000

Property Description

Great 5-Plex mixed use building D3 Zoning located in the Downtown Core just outside of Hess Village. Sq Ft according to Seller approx 2920. Comm space on mn fl currently vacant but many options available for retail/restaurant/office & more.... Rare 5 car parking in the rear of building. Gross monthly potential rent of $8,150.00 & annual proj GROSS income of $97,800.00. Bach/Studio $1,350.00 (Actual), 1-Bed (Basement) $1,450.00 (Projected) 1-Studio/Bach - $1,100.00 (Actual) Bach/Studio Loft - $1,250.00 (Actual), 1-Commercial $3,000.00 + HST ( Vacant & Projected) or potential to sub-divide mn fl unit into 2 Bach/Studio suites. Some Res Rents paid directly by the Government. *UTILITIES PAID BY LANDLORD. Some units have had some major updates. Retail mn fl currently vacant but could be great for owner/operator live/work scenario or easily rented. Expenses: Taxes: $4,258.75 (2022), Utilities: $5,428.96 (Annual Hydro, Gas + Water -Estimated), Insurance: $3,000.00(approx). Net: $85,112.29 (Projected), a healthy Cap Rate: 7.7% (Projected). PROPERTY IS ELIGIBLE FOR "FACADE GRANT" & other Downtown Inprovement programs. *East side Stucco wall to be repaired under pending Insurnance claim. Allow 24 Hr's for viewings. * Some Residential units are not accessible until accepted Offer due to Tenant refusal for showings. Buyer to perform own "Due Diligence" regarding zoning and allowable uses. Selling "as is", "where is", no warraunties, guaranties or other representations.

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What's your Walk Score? 94 Walker's Paradise

What's your Transit Score? 85 Excellent Transit

Property Details: 72 George Street (near Hess )
Listing# 56424


Address 72 George Street
City Hamilton
Cross Streets Hess
District Hamilton West (10)
Neighbourhood North End West (100)
Listing Agent Vincent Formosi


Sub Type Investment Price $ 1,099,000
Location Hamilton Heating Gas Forced Air Closed
Square Footage 2920

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