26
$2,988,000 Sale
Listed 1 day
1539-1547 BARTON Street E
· 1
· 0.0
· 11
· 25860
Key Facts
Key facts for 1539-1547 BARTON Street E
Property Type
Apartment
Parking
Garage: No, 11 parking
MLS #
40872450
Size
25860 sqft
Basement
Partially finished, Full (Partially finished)
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
-
Maintenance Fee
-
Description
A strong opportunity to acquire a professionally managed 16-unit residential apartment property priced at a 6% cap rate; offering an attractive combination of strong current yield, stable operations and meaningful upside. The suite mix includes 14 two-bedroom apartments and two one-bedroom apartment...s, with approximately 11 of the 16 units updated to varying degrees by current ownership. Several remaining suites offer further renovation potential, while a number of existing rents — including some materially below market — provide clear opportunity for income growth over time. The property is a solid, relatively low-maintenance multi-residential asset with a substantial paved parking area at the rear. It has been professionally managed for years and offers buyers a straightforward addition to an existing residential portfolio. Located in the edge of Hamilton’s east end, the property is surrounded by everyday amenities including grocery, shopping, restaurants, services and transit, with convenient access to the Red Hill Valley Parkway and QEW. The property delivers compelling in-place income with the added benefit of CMHC financing potential and multiple avenues for long-term value creation. For investors seeking scale, strong yield and embedded rental upside in a pure residential asset, this is a particularly attractive offering. (id:10452)
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Listing courtesy of: Corcoran Horizon Realty
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