Hamilton L8H 2W1
Canada

Property

Ownership: For Sale
Type: Unknown

Financials

Price:C2,489,000
($1,831,100)
(€1,561,800)
Annual Taxes:C21,667
505 Park Ave, New York, NY 10022

Extensively upgraded, this 2.

Description

Extensively upgraded, this 2.5-storey mixed-use building offers a rare opportunity to acquire a stabilized asset with strong in-place income and long-term upside. The property comprises 8 renovated residential units (42-bedroom and 41-bedroom) above 3 ground-floor commercial spaces, all occupied by established tenants. Two commercial leases have just begun new 5-year terms, providing secure income through 2031. The current owner has completed a comprehensive renovation program, including full updates to all residential units in 2022, along with significant improvements to the building's systems and exterior. Windows and heat pumps were replaced in 2022, electrical has been substantially upgraded, and all three commercial units have been fully rebuilt within the past year, creating modern, attractive spaces for long-term tenancy. The desirable residential units feature in-suite laundry and efficient ductless HVAC for heating and air conditioning, offering a high-quality tenant experience. Purposefully configured for ease of ownership, the building requires minimal ongoing maintenance, with no parking, exterior grounds, balconies, or elevators to manage. All utilities are tenant-paid, further simplifying operations. Located at the east end of Barton Village, a corridor gaining renewed energy and investment, the property benefits from strong connectivity and convenient highway access-supporting continued tenant demand and long-term growth.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.