477 King Street E, Hamilton, ON L8N 1C7 (Victoria Avenue North)
$ 3999999 - MLS : X12490140

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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.

Location Description

Victoria Avenue North

Property Detail

Facts and Features

Amenities

Listing Contracted With: Corcoran Horizon Realty