For Sale · Multifamily

66 WELLINGTON STREET S, Hamilton (Corktown)

66 WELLINGTON STREET S, Hamilton (Corktown), ON L8N2R1

$1.5M total

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Asset Class

Multifamily

Size

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Building class

B

Zoning

RA9 — High Rise

$ / SF

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Occupancy

98%

About this property

Exceptional opportunity to acquire a fully tenanted 8+1 multiplex in Hamilton's desirable Corktown neighbourhood, generating approximately $151,000 in annual gross rental income.This substantial three-storey income property has undergone extensive renovations and offers updated units with modern finishes, providing investors with a low-maintenance and income-producing addition to their portfolio. Tenant amenities include private balconies and patios, on-site laundry, separate unit entrances and a finished basement.Situated on a deep 36.6 134.5 ft lot in a high-demand central location, the property is just minutes from downtown Hamilton, the Hamilton GO Centre, major transit routes, shopping, restaurants and everyday amenities.With strong existing rental income, full occupancy, recent capital improvements and excellent long-term potential, this is an outstanding opportunity for both experienced and first-time multifamily investors.Financial information and supporting documents are available to qualified buyers. A minimum of 24 hours' notice is required for all showings. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.49M
Down payment30% · $447K
Interest rate6.25%
Amortization25 years
Occupancy98%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$76K

Annual cash flow

$-7K

Cash-on-cash

-1.46%

DSCR

0.92

Going-in cap

5.10%

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.

Area demographics

Trade area within 3 miles of the property.

Population

79,139

Households

32,030

Median income

$73,000

Median age

42.5

Daytime population

125,286

5-yr growth

2.4%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 66 WELLINGTON STREET S, Hamilton (Corktown).

NDA required
  • 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.