Investment Commercial Building for Sale

MLS# H4071135 Price: $3,297,000


Endless possibilities for this multi-unit apartment building with new TOC 1 Zoning located in high-demand area across from McMaster University and Children’s Hospital. Potential to expand the building footprint, with allowable height of 72 feet, and 127 foot frontage. Adjacent TOC 1 property with 60 ft frontage available. Permitted uses include Commercial applications with possible reduced setback requirements. Current use--Legal 7 unit, brick & concrete 3 storey apartment building with 129 K gross rents. Recent improvements to 4 apts with the prospect of increasing revenue to market rents within 12-16 mos (155K+). All units have individual electrical breaker panels, separately metered with digitally controlled electric heat—tenants pay heat & hydro. Parking for 7 vehicles or more. Roof-2 layer Torch Down (2006); Thermo Windows (2006); 2 Rheem 60 gal. gas direct vent water heaters (2019); hard wired smoke detectors in stairwells; common paid laundry room facilities.

What's your Walk Score? 58 Somewhat Walkable

What's your Transit Score? 64 Good Transit

Property Details: 26 BOWMAN Street (near MAIN ST & BOWMAN ST )
Listing# 26188


Location

Address 26 BOWMAN Street
City Hamilton
Cross Streets MAIN ST & BOWMAN ST
District Hamilton West (11)
Neighbourhood Hamilton West (114)
Listing Agent Lucy Hall

Description

Sub Type Investment Price $ 3,297,000
Lease Rate Per For Sale Approx. Age 31-50 Years
LotSize 127.75 FRONTAGE BY 130.96 AND 85.12 DEPTH Location Hamilton
Heating Baseboard Square Footage 9838

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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.

David and Ann Ryan, Sales Representatives
Office: 905-632-2199 | Direct: 905-407-4353 | info@ryanshomes.ca

RE/MAX Escarpment Realty Inc., Brokerage | 4121 Fairview St, Burlington, Ontario L7L 2A4, Canada

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