












1/1474 LOCKE STREET N, Hamilton (Strathcona), ON L8R3A5
$1.1M total
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Asset Class
Multifamily
Size
—
Building class
C
Zoning
RA9 — High Rise
$ / SF
—
Occupancy
85%
Excellent investment opportunity in a prime central Hamilton location. Situated on a prominent corner lot at Locke St N and Peter St, this 3-storey multi-residential property features 8 self-contained residential units consisting of 4 two-bedroom and 4 one-bedroom units, each with separate hydro meters. Offering approximately 4,220 sq ft of living space, 5 parking spaces, coin-operated laundry, boiler heating system and additional basement space. Fully tenanted with established rental income and significant future upside as tenancies turn over. Conveniently located minutes from Victoria Park, Bayfront Park, West Harbour GO, public transit, downtown Hamilton and the shops and restaurants of Locke Street. An opportunity for investors to acquire an established income-producing property in one of Hamilton's most convenient and desirable central locations. Property being sold under Power of Sale on an "as is, where is" basis. (id:66811)
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Monthly debt service
$5K
Projected NOI
$42K
Annual cash flow
$-18K
Cash-on-cash
-5.60%
DSCR
0.70
Going-in cap
3.86%
Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.
Trade area within 3 miles of the property.
Population
41,133
Households
17,480
Median income
$85,000
Median age
42
Daytime population
61,455
5-yr growth
6.5%
Modelled estimates for illustration until a licensed census data provider is connected.
Confidential diligence documents for 74 LOCKE STREET N, Hamilton (Strathcona).
Offering Memorandum
PDF · 4.2 MB
Rent Roll & T-12
XLSX · 820 KB
Environmental Phase I
PDF · 6.7 MB
Site Survey & Plans
PDF · 11.4 MB
Zoning Confirmation Letter
PDF · 310 KB
Preview experience — the electronic NDA is illustrative and is not a binding agreement.