Home Details for 45 WELLINGTON N Street

Brand new mixed-use investment opportunity in the heart of Hamilton's rapidly transforming urban core. This fully converted 7-unit asset is zoned D1 and strategically positioned steps from a major transit corridor, significant intensification projects, and numerous existing and proposed condominium developments. Offered with assumable CMHC MLI Select financing featuring a 5-year term at 4.13% interest (potentially lower) and an attractive 50-year amortization, creating exceptional cash flow and long-term financing stability. The property has undergone a comprehensive transformation with virtually all major infrastructure replaced, including electrical, plumbing, HVAC, framing, and insulation. Additional features include all split-unit heating and cooling systems, 8 separate hydro meters (including house meter), a brand-new galvanized powder-coated metal fire escape, 2018 roof, 2021 windows, and 4 on-site parking spaces. Offered at a 4.63% cap rate inclusive of taxes, insurance, common utilities, vacancy allowance, property management, and maintenance expenses. Enjoy close to $35,000 (pending standard commercial downpayment) in annual positive cash-flow! A rare opportunity to acquire a turnkey, institutionally financed mixed-use asset in one of Hamilton's most active growth corridors with strong in-place income and significant long-term appreciation potential (id:31684)