Investment Commercial Building for Sale

MLS# H4146333 Price: $1,099,000




Property Description

Great 5-Plex mixed use building D3 Zoning located in the Downtown Core just outside of Hess Village. Sq Ft according to Seller approx 2920. Comm space on mn fl currently vacant but many options available for retail/restaurant/office & more.... Rare 5 car parking in the rear of building. Gross monthly potential rent of $8,150.00 & annual proj GROSS income of $97,800.00. Bach/Studio $1,350.00 (Actual), 1-Bed (Basement) $1,450.00 (Projected) 1-Studio/Bach - $1,100.00 (Actual) Bach/Studio Loft - $1,250.00 (Actual), 1-Commercial $3,000.00 + HST ( Vacant & Projected) or potential to sub-divide mn fl unit into 2 Bach/Studio suites. Some Res Rents paid directly by the Government. *UTILITIES PAID BY LANDLORD. Some units have had some major updates. Retail mn fl currently vacant but could be great for owner/operator live/work scenario or easily rented. Expenses: Taxes: $4,258.75 (2022), Utilities: $5,428.96 (Annual Hydro, Gas + Water -Estimated), Insurance: $3,000.00(approx). Net: $85,112.29 (Projected), a healthy Cap Rate: 7.7% (Projected). PROPERTY IS ELIGIBLE FOR "FACADE GRANT" & other Downtown Inprovement programs. *East side Stucco wall to be repaired under pending Insurnance claim. Allow 24 Hr's for viewings. * Some Residential units are not accessible until accepted Offer due to Tenant refusal for showings. Buyer to perform own "Due Diligence" regarding zoning and allowable uses. Selling "as is", "where is", no warraunties, guaranties or other representations.

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What's your Walk Score? 94 Walker's Paradise

What's your Transit Score? 85 Excellent Transit

Property Details: 72 George Street (near Hess )
Listing# 56339


Location

Address 72 George Street
City Hamilton
Cross Streets Hess
District Hamilton West (10)
Neighbourhood North End West (100)
Listing Agent Vincent Formosi

Description

Sub Type Investment Price $ 1,099,000
Location Hamilton Heating Gas Forced Air Closed
Square Footage 2920

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Notice! Information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy we regret that we cannot guarantee it. All information subject to change and/or withdrawal without notice.



Google Rating

5      68 reviews


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Jan Hall
  August 30, 2022

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Anastasiia Pysarchuk
  July 22, 2022

We couldn't be happier with how we were treated and worked with by Melissa Uba of the Lori VanDinther Team. She was extremely responsive and very pro-active on communicating with us. My brother and I came from Ukraine a couple months ago and it was very important to find someone who could guide us. Mellisa became that person and did everything to help with first leasing experience in Canada. The process went so smoothly and she was an absolute pleasure to work with. She was very knowledgeable about the process and was a great resource. She offered her opinion when we asked and helped us to consider things we hadn’t thought of. We’ll definitely reach out to Melissa in the future and we highly recommend her!

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Monica Leoni
  June 21, 2022

Lori VanDinther and her team are dedicated professionals who love what they do and who make your experience a personal one. We had the pleasure of working with Melissa Uba recently and we could not be more grateful for her help. We are currently hosting two young Ukrainians in our home, who recently began the process of finding their own place to live in a very difficult and expensive Burlington market. Melissa handled the situation delicately and compassionately, getting to know the needs and realities of our guests first, and then catering her searches to meet them on every level. Melissa showed professionalism and empathy throughout, and made every viewing a positive and hopeful experience. We recommend her highly!!

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Wendy Walker
  May 27, 2022

Lori and her team are extremely professional and knowledgeable. In a changing market Lori and her team nailed it! The sale of my home went quickly and without any problems. The expertise in knowing the data in the market to their confidence in selling my home quickly and at a good market value was unprecedented. The communication with all team members from start to finish was fabulous. Thank you again for doing a fantastic job! Wendy Walker

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