Incredible low-maintenance investment offered at a massive 6.6% cap rate even AFTER accounting for a vacancy allowance and repairs and maintenance! This fully-renovated, now fully-tenanted building is well-positioned for either the experienced or first-time investor. Includes 4 beautifully renovated apartments with great tenants, a fabulous new franchise QSR restaurant tenant on the ground floor, and a tenancy with a strong lease in the previously-vacant commercial unit. Additional income comes from rooftop billboards. In exceptional condition, this property comes with a recent, clean Phase II Environmental. Plus, there are no parking spots, balconies, or elevators to maintain or cause issues! This is truly an exceptional opportunity for a strong, stable investment with a substantial, above-market return!
Address
289-293 Kenilworth Avenue N
List Price
$1,799,000
Property Type
Commercial
Type of Dwelling
Commercial Retail
Area
Hamilton
Sub-Area
Crown Point
County
Hamilton
Lot Depth
35
Lot Type
Lot
Lot Size Units
Feet
Lot Width
64.66
MLS® Number
X12089960
Listing Brokerage
Sotheby's International Realty Canada, Brokerage
Postal Code
L8H 4S8
Tax Amount
$10,702.14
Tax Year
2024
Heat Type
Gas Forced Air Closed
Cooling Features
Yes
Garage Type
None
Security Features
No