LARGE APARTMENT BUILDING IN HAMILTON WITH DEVELOPMENT POTENTIAL

This multi-unit residential high rise building, containing 149 rental units, is located in a good rental neighbourhood of Hamilton close to the downtown core. Boasting a well-desired suite mix of bachelors, 1 bedrooms, 2 bedrooms, 3 bedrooms, and a 4 bedroom, there is significant upside in rents on turnover of units. The current owner has left approximately 25 units vacant to facilitate the sale of the property; allowing a purchaser to renovate to their style and choose their tenants at full market rents. Boilers have been recently replaced with high efficiency models and the roof was refinished in 2019. In addition to the upside in rents, there is also additional space on the first floor to add new units, some utility efficiencies which can be implemented to provide an upside in the operational expenses, and potential to build an additional rental building on site at the rear of the property. There is ample parking on site with the surface and underground parking. Take advantage of this opportunity to own a large multi-unit residential property in growing Hamilton!