41 Albert Street (H4048238)

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  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
  • 41 Albert Street
41 Albert Street, Hamilton, Ontario, L8M2Y1
Property TypeMulti-family Building Area9117

Great opportunity to own this carefully redeveloped 13 unit apartment building. 3 storey walkup with 12-1 bedroom units & 1-4 bedroom unit. Separate coin laundry room for all tenants. This building has seen great attention to detail with renovations in 8 of 13 units. New kitchens with quartz counter tops, stainless steel appliances, refinished original hardwood floors, restored character and charm throughout. This building is in demand and commands excellent rents with 1 bedrooms currently renting for $1325 plus hydro. Basement has been fully redeveloped into a luxury 5 bedroom unit and is rented to great tenants who utilize the basement commercial lease for their employees during short local stays. OPPORTUNITY 1: to renovate remaining 5 units and re-rent at $1,295 (or higher), resulting in income increase of $3,136 per month ($37,632 annual), equal to approx $640,000+ value lift, available to the new owner! OPPORTUNITY 2: 13 separate condo titles for each unit, offers buyer significantly lower land transfer taxes in addition to the option to sell individual units in future. Current gross income of $179,470 and a net operating income of $134,930. Offered at a 5.4 cap. rate. Located within walking distance to new LRT line and all transit options. A short walk to Gage park, Hamiltons largest city park. Financials available on request. Buy now and as cap rates decrease watch values increase. (id:6308)


Details
GarageNo CarportNo
Attached GarageNo Open ParkingNo
WaterfrontNo Architectural Style3 Level,Multi-Unit
Frontage Length100 ft ViewNo
Building
Cooling TypeCentral air conditioning CoolingYes
HeatingForced air Heating FuelNatural gas
Levels3 Number Of Units Total13
PoolNo SewerMunicipal sewage system
Stories3

Listing Office: Keller Williams Complete Realty

Data Provided by REALTORS® Association of Hamilton-Burlington

Last Modified :16/04/2019 05:06:09 PM

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