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. (id:56069)
| MLS® Number | X12490140 |
| Property Type | Retail |
| Neigbourhood | Landsdale |
| Community Name | Landsdale |
| Amenities Near By | Public Transit |
| Parking Space Total | 26 |
| Cooling Type | Partially Air Conditioned |
| Heating Fuel | Natural Gas |
| Heating Type | Hot Water Radiator Heat |
| Size Interior | 20,385 Ft2 |
| Utility Water | Municipal Water |
| Acreage | No |
| Land Amenities | Public Transit |
| Size Depth | 125 Ft |
| Size Frontage | 143 Ft |
| Size Irregular | 143 X 125 Ft |
| Size Total Text | 143 X 125 Ft |
| Zoning Description | Mixed Use Transit Oriented Corridor |
https://www.realtor.ca/real-estate/29047255/477-king-street-e-hamilton-landsdale-landsdale
Contact us for more information
Martinus Geleynse
Broker of Record
(647) 873-3999
www.corcoranhorizon.com/
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