657 King Street E Hamilton, ON L8N 1E5
8,000 SqFt
UPDATED:
Key Details
Property Type Condo
Sub Type Condo/Apt Unit
Listing Status Active
Purchase Type For Sale
Square Footage 8,000 sqft
Price per Sqft $218
MLS Listing ID 40861599
Style Apartment
Abv Grd Liv Area 8,000
Annual Tax Amount $15,000
Property Sub-Type Condo/Apt Unit
Source Cornerstone
Property Description
Zoned TOC1 and located approx. 100 metres from a planned LRT station, the combined site offers approx. 8,102 sq. ft. of land with 74.9 ft. frontage, 110 ft. depth and convenient rear access. Excellent redevelopment potential, with plans contemplating a 12-storey mixed-use commercial/residential development with approx. 64 luxury residential units, subject to all required approvals.
The existing buildings offer immediate income potential with a total of 16 residential rental units plus a well-known main-floor bar. Five newly renovated vacant units are ready for leasing, providing an opportunity to increase rental income. Additional main-floor commercial space with basement is also available for lease and suitable for a variety of business uses.
A rare opportunity combining existing rental income, commercial uses, transit-oriented location and significant long-term redevelopment potential in Hamilton's evolving downtown. Seller may consider a Vendor Take-Back (VTB) mortgage for qualified buyers and may also provide temporary property management assistance after closing and development consulting. Price and terms are negotiable. Showings strictly by appointment only. Don't miss this unique opportunity to acquire TWO adjoining buildings as one strategic investment!
Location
Province ON
County Hamilton
Area 14 - Hamilton Centre
Zoning TOC1
Direction King street to Wentworth Street
Rooms
Kitchen 0
Interior
Interior Features Water Meter
Heating Gas Hot Water
Cooling None
Fireplace No
Appliance Water Heater, Dryer, Gas Stove
Laundry Coin Operated
Exterior
Roof Type Flat
Porch Enclosed
Lot Frontage 49.16
Lot Depth 110.0
Garage No
Building
Lot Description Urban, Corner Lot, Public Transit
Faces King street to Wentworth Street
Sewer Sanitary
Water Municipal
Architectural Style Apartment
Level or Stories 3
Structure Type Brick
New Construction No
Others
Senior Community No
Tax ID 171800158
Ownership Freehold/None
Virtual Tour https://www.youtube.com/watch?v=FZ4vshZY_k4