| Message Number | 390854 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| status | Active | ||||||||
| Subject Line | Hamilton: 10 Unit Licensed Lodging Home/Rooming House + 1 small commercial unit. $1,200,000 | ||||||||
| Business area |
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| Location, City | Hamilton | ||||||||
| Have/Want | Have | ||||||||
| Business category | Business Opportunities Apartment buildings/multi unit/condo townhouse projects/investments |
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| Date of Listing | July 27 2020 | ||||||||
| Type Description | Purpose Built Lodging Home with Commercial Unit | ||||||||
| Location | Hamilton | ||||||||
| Price | $1,200,000.00 | ||||||||
| Size | 10 Residental Units + 1 Commercial Unit | ||||||||
| Building area | 26612181 | ||||||||
| Site area | 4,338 square feet | ||||||||
| Zoning | TOC1-Mixed Use Transit Oriented Corridor Zone | ||||||||
| Gross Income | 114,900.00 | ||||||||
| Expenses | 19014.00 | ||||||||
| Net Income | 95,886.00 | ||||||||
| Cap Rate | 7.99% | ||||||||
| Comments | Licensed 10 Room Lodging Home/Room House with a ground floor commercial unit of approximately 600 feet. Seller believes city would allow conversion of commercial area to 2 more units.
Property was modified specifically originally to become a youth group home. Property tax and utility benefits still in place. Property is on major city bus llne and close to shopping. About 50% of tenants have their rent deposited directly by the government to the Landlord. City housing constantly calling Landlord because of housing shortage in Hamilton. |
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| Internet Links | |||||||||
| Member Identifier | 555 | ||||||||
| Client Details | Active Investor User/Manager |
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| Client Situation | Off Management | ||||||||
| Motivation Rating | Part Paper/Cash | ||||||||
| Client Wants | Cash and Paper | ||||||||
| Explain Client's Motivation | Retiring. | ||||||||
| Broker's Recommendation | Call me for further details | ||||||||
| Control | Exclusive | ||||||||
| Name | John Gallagher | ||||||||
| Title | Broker | ||||||||
| Company Name | Cirrius Realty Inc., Brokerage | ||||||||
| Address Line One | 2828 King Street East | ||||||||
| City | Hamilton | ||||||||
| State/Province | Ontario | ||||||||
| Zip/Postal Code | L8G 1J5 | ||||||||
| Country | Canada | ||||||||
| Business Phone Number | (905)481-3206x242 | ||||||||
| Cell Number | 647-931-6562 | ||||||||
| Home Number | 905-581-7778 | ||||||||
| FAX Number | 905-481-3207 | ||||||||
| Email Address | Send Email | ||||||||
| Home Page | Home Page |
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