1083 Main Street E

$6,350,000


Main Street E and King Street E
1083 Main Street E Hamilton

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Building Features

  • Details

    The Lennard Commercial Multi-Family Team is pleased to offer for sale a 52 Unit Multi-Family Building located at 1083 Main Street E, Hamilton

    INVESTMENT HIGHLIGHTS:

    0.55 acres / 24,111 SF

    Existing Units:  23 X 1 Bed | 27 X 2 Bed |    2 X 3 Bed

    Additional Units:  4 X Bachelor | 2 X Loft

     

    • Across from beautiful Gage Park in Central Hamilton
    • Directly adjacent to proposed Gage Park LRT Stop
    • Walking distance to trendy Ottawa Street shops & restaurants
    • Permit for the additional of 6 units, adding $38,500 to Net Operating Income  (14.0% increase to in-place NOI)
    • Under-market rents suggesting rental upside of $77,400 (14.5% increase to Gross Revenue)
    • Hydro sub metering installed: 63% of units have yet to turn over and begin paying electric expense