+16 more
26
Bedrooms
0
Bathrooms
18,879 sqft
Living Area
0.43 ac
Lot
1869
Year Built
About This Property
This 26-bedroom, 0-bathroom multi-family in Hamilton offers 18,879 sqft of living area on a 0.43 ac lot. Built in 1869, 2 storeys. The property has lot dimensions of 0.43. The home features forced air, natural gas heating, central air conditioning, a partially finished, full basement. Highlights include a 19-car garage.
MLS Remarks
An exceptional opportunity to acquire a truly one-of-a-kind heritage asset in the heart of Downtown Hamilton. 16 West Ave S is a stunning converted church, thoughtfully transformed into a loft-style apartment building in 2022, seamlessly blending historic character with modern functionality. Featuring soaring ceilings, dramatic stained-glass windows, and architectural details rarely found in today’s market, the property comprises 18,879 SF with 19 fully occupied units, offering an ideal unit mix of 2 bachelor suites, 10 one-bedrooms, 5 two-bedrooms, and 2 three-bedrooms, complemented by 19 surface parking spaces. The asset is fully stabilized, generating approximately $314,276 in Net Operating Income, providing immediate, predictable cash flow. The property further benefits from highly attractive assumable financing at a fixed 3.72% interest rate extending to 2032. This below-market debt materially enhances returns and offers a significant advantage in today’s rate environment. Perfectly positioned steps to shops, restaurants, theatres, and everyday amenities, and just moments from the Hamilton GO Station for seamless access along the GO Transit line, this central location is unmatched. Situated in a thriving urban core anchored by McMaster University and major professional sports franchises including the Hamilton Tiger-Cats and Toronto Rock, this is a rare, turnkey investment combining strong income fundamentals, irreplaceable character, and long-term upside. (id:60351)
Overview
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