45 Wellington Street North

Hamilton, ONMulti-family
$2,500,000
MLS® X13787708
Multi-family2 total[object Object]
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About This Property

INVESTMENT OPPORTUNITY | 7 MIXED-USE UNITS | 5.62% CAP RATE | $175,740 SCHEDULED ANNUAL GROSS INCOME. 45 Wellington Street N presents a rare opportunity to acquire a fully converted, income-producing mixed-use property featuring 5 residential units, 2 commercial units and additional storage income, creating a diversified revenue stream in one of Hamilton's rapidly evolving urban corridors.Fully tenanted, the property generates approximately $14,645/month in scheduled gross income, or $175,740 annually, and is offered at an attractive 5.62% capitalization rate.Extensive capital improvements include updated HVAC, plumbing and electrical systems, framing and insulation, spray foam insulation, separate hydro metering, roof and windows, on-site parking, a new garden suite, new walk-in cooler and water-powered metal fire escape, plus numerous additional upgrades.Potential financing opportunity: positioned for a potential $2M CMHC take-out under 100-point MLI Select, incorporating affordability and energy-efficiency considerations, with an estimated 9.6% cash-on-cash return, including the applicable default insurance premium.Strategically located near major transit, established amenities, employment centres and significant ongoing redevelopment, the property is well positioned to benefit from Hamilton's continued urban intensification and growth.D1 zoning provides flexibility and additional future opportunity. With diversified income, extensive improvements, an attractive cap rate and potential CMHC financing strategy, 45 Wellington Street N offers investors a compelling opportunity for current cash flow and long-term value creation.A distinctive Hamilton investment property offering scale, income and significant future potential. (id:63604)

Key Facts

Type
Multi-family
Size
4,763 sqft
Lot
Bldg=30.18 x 54.75 FT
Parking
2 total
Property Details 11 details
Parking
2 parking spaces
Living area
4,763 sq. ft.
Property
Multi-family · Attached
Property subtype
Multi-family
Structure type
Multi-Family
Attached status
Attached
Heating
Forced air
Cooling
Partially air conditioned
Fireplace
No
Lot dimensions
Bldg=30.18 x 54.75 FT
Frontage
30.20 feet
Taxes
$15,000.00 (2,026)
Zoning
(D1)
Water source
Municipal water
Mortgage & Affordability Estimate monthly costs
Mortgage Tools Buyer/Seller Snapshot
Purchase price$2,500,000
Down paymentNot available
Mortgage amountNot available
Principal & interestNot available
Property taxesNot available
Condo/HOA feeNot available
Insurance/OtherNot available
UtilitiesNot available
Est. monthly totalNot available
Income needed (GDS 32%)Not available
Estimates only. Not financial advice. Rates, taxes and fees vary by lender and municipality.

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Neighbourhood

Area
Beasley
City
Hamilton
Postal code
L8R 1M9
Nearby
Wellington St. N/King William
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