72 George Street Hamilton, Ontario L8P 1C9
$999,000
Great 5-Plex mixed use building D3 Zoning located in the Downtown Core just outside of Hess Village. Sq Ft according to Seller approx 2920. Comm space on mn fl currently vacant but many options available for retail/restaurant/office & more.... Rare 5 car parking in the rear of building. Gross monthly potential rent of $8,150.00 & annual proj GROSS income of $97,800.00. Bach/Studio $1,350.00 (Actual), 1-Bed (Basement) $1,450.00 (Actual) 1-Studio/Bach - $1,100.00 (Actual) Bach/Studio Loft - $1,250.00 (Actual), 1-Commercial $3,000.00 + HST ( Vacant & Projected) or potential to sub-divide mn fl unit into 2 Bach/Studio suites. Some Res Rents paid directly by the Government. *UTILITIES PAID BY LANDLORD. Some units have had some major updates. Retail mn fl currently vacant but could be great for owner/operator live/work scenario or easily rented. Expenses: Taxes: $4,258.75 (2022), Utilities: $5,428.96 (Annual Hydro, Gas + Water -Estimated), Insurance: $3,000.00(approx). Net: $85,112.29 (Projected), a healthy Cap Rate: 8.5% (Projected). PROPERTY IS ELIGIBLE FOR "FACADE GRANT" & other Downtown Inprovement programs. *East side Stucco wall to be repaired under pending Insurnance claim. Allow 24 Hr's for viewings. * Some Residential units are not accessible until accepted Offer due to Tenant refusal for showings. Buyer to perform own "Due Diligence" regarding zoning and allowable uses. Selling "as is", "where is", no warraunties, guaranties or other representations.48 HRS NOTICE REQUIRED (id:52486)
Business
| Business Type | Other |
Property Details
| MLS® Number | H4146333 |
| Property Type | Other |
| Amenities Near By | Public Transit, Recreation |
| Community Features | Community Centre |
| Parking Space Total | 5 |
Building
| Appliances | Refrigerator |
| Cooling Type | None |
| Fire Protection | Smoke Detectors |
| Heating Type | Forced Air |
| Size Exterior | 2920 Sqft |
| Size Interior | 2920 Sqft |
| Utility Water | Municipal Water |
Parking
| Visitor Parking |
Land
| Access Type | Highway Access |
| Acreage | No |
| Land Amenities | Public Transit, Recreation |
| Sewer | Sanitary Sewer, Storm Sewer |
| Size Depth | 95 Ft |
| Size Frontage | 23 Ft |
| Size Irregular | 23 X 95 |
| Size Total Text | 23 X 95 |
| Zoning Description | D3 |
https://www.realtor.ca/real-estate/24927623/72-george-street-hamilton
Interested?
Contact us for more information
Vincent R. Formosi
Broker
(905) 575-7217
HTTP://WWW.VINCENTFORMOSI.COM
Unit 101 1595 Upper James St.
Hamilton, Ontario L9B 0H7
(905) 575-5478
(905) 575-7217
www.remaxescarpment.com
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January 13 2023 01:06:54
REALTORS® Association of Hamilton-Burlington
RE/MAX Escarpment Realty Inc.