477 King Street E,Hamilton, ON L8N 1C7
Hamilton, ON L8N 1C7
Description
Prime Investment with Huge Upside! This property already delivers an impressive 6.34% cap rate on in-place income and that’s without counting the five vacant commercial units. Active negotiations on three of those spaces are underway, pushing projected returns to 7.5%+ once leased. The upside here is undeniable. Positioned with over 142 feet of frontage along the future LRT route, and backed by a 26-car parking lot spanning nearly an entire city block, this asset combines strong income performance with outstanding redevelopment potential. Extensively renovated, it showcases a refreshed façade with new retail glass, newer windows and roof, high-efficiency boilers, and a fully rebuilt metal fire escape representing major capital work already completed. The residential suites feature spacious two-bedroom layouts plus one three-bedroom, all with high ceilings, large windows, updated kitchens and baths, on-site parking, and generous floor plans that consistently attract quality tenants. The commercial spaces (approx. 1,000 sq. ft. each) boast soaring ceilings, full basements, and direct roll-out access to the rear lot ideal for a wide variety of uses. A recent clean Phase I Environmental Study is on hand. Aggressively priced to sell, this is a rare opportunity for a savvy investor or developer seeking strong cash flow today, tremendous upside tomorrow, and unbeatable positioning along a rapidly evolving urban corridor.
Details
| MLS # | 40783770 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 10 |
| Listing Provided By | Corcoran Horizon Realty | Martinus Dominicus Geleynse |
Features
| SQ Feet | 20,385 |
|---|---|
| Garage | 1 |
| Basement | Y |
| Story(s) | 3 |
| Zoning | Mixed Use Transit Oriented Corri |
| Acreage | 0.40 |
Taxes
| Property | 94575 |
|---|
Area Information
| Province | ON |
|---|---|
| Region | Hamilton |
| City | Hamilton |
| Postal Code | L8N 1C7 |
| Area | 14 Hamilton Centre |
| Subarea | 141 Lansdale |
| Community Name | 141 Lansdale |
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Learn More About This Property
| Province | ON |
|---|---|
| Region | Hamilton |
| City | Hamilton |
| Postal Code | L8N 1C7 |
| Area | 14 Hamilton Centre |
| Subarea | 141 Lansdale |
| Community Name | 141 Lansdale |
 | $3,999,999477 King St EHamilton, ON L8N 1C7 |