577 BARTON STREET E, Hamilton (Gibson)
577 BARTON STREET E, Hamilton (Gibson), ON L8L2Z4
$1.5M total
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Asset Class
Multifamily
Size
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Building class
C
Zoning
RF6 — Medium Density
$ / SF
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Occupancy
88%
About this property
A rare chance for builders and investors to acquire a multi-residential conversion in Hamilton's lower city.Three-storey brick building on Barton Street East, offered under power of sale. City-filed drawings show a conversion to 18 residential units with approximately 10,200 sf of net unit area across four levels, including a basement amenity area. Permit drawings were reviewed by the City of Hamilton in 2023.Interior work has started. Fire damage repairs from 2023 were completed under a separate permit, which has since been closed.Drawings and permit information are provided for reference only and do not include any right to use the drawings. Showings by appointment only, escorted by the listing agent. (id:66811)
Financial sandbox
Adjust the deal assumptions — returns recalculate instantly.
Monthly debt service
$7K
Projected NOI
$57K
Annual cash flow
$-26K
Cash-on-cash
-5.85%
DSCR
0.68
Going-in cap
3.79%
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
108,779
Households
40,593
Median income
$120,000
Median age
35.8
Daytime population
119,895
5-yr growth
8%
Modelled estimates for illustration until a licensed census data provider is connected.
Secure deal room
Confidential diligence documents for 577 BARTON STREET E, Hamilton (Gibson).
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.