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$ 3,599,000
Est. payment | /mo
12,000 SqFt
$ 3,599,000
Est. payment | /mo
12,000 SqFt
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 12,000 sqft
Price per Sqft $299
Subdivision Gibson
MLS Listing ID X12466923
Annual Tax Amount $27,276
Tax Year 2025
Property Sub-Type Investment
Property Description
An exceptional opportunity to acquire a professionally managed, income-producing property comprising 12 residential units across three buildings plus a developable lot - offering strong, reliable income today and meaningful potential for future growth. At the west side of the site, an attractive red-brick Victorian home has been gracefully converted into three suites, each blending classic architecture with modern comfort. Two units showcase period details and generous layouts, while the top-floor studio has been fully renovated with contemporary finishes. Adjacent to the Victorian stands a purpose-built 9-unit apartment building, combining solid construction, bright, spacious suites, and timeless appeal. Many of the residences have been thoughtfully updated, and both buildings have been exceptionally well maintained. At the rear, a four-bay cinderblock garage provides additional income flexibility, alongside a 12-car surface parking area accessed via a City laneway. The property enjoys a healthy rent roll with rates generally aligned to current market levels, reflecting stable, long-term tenancies and well-managed operations. At the asking price, the asset offers an attractive ~5.84% cap rate, illustrating both strength and sustainability of income. The eastern portion of the site adds a compelling development component. The Seller has completed substantial planning and design work to sever and construct up to 16 additional residential units. Conditional severance approval and key variances (for lot sizing, parking, and setbacks) was previously granted. A rare blend of strong in-place performance, development-ready upside, and enduring value, this offering stands out as one of Hamilton's most compelling multi-residential investment opportunities - ideally suited for CMHC-insured financing or long-term portfolio growth.
Location
Province ON
County Hamilton
Community Gibson
Area Hamilton
Interior
Cooling No
Exterior
Community Features Public Transit
Utilities Available Yes
Lot Frontage 106.32
Lot Depth 137.4
Others
ParcelsYN No
Listed by Corcoran Horizon Realty
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