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$ 1,750,000
Est. payment /mo
New
663 KING STREET E Hamilton (landsdale), ON L8N1E5
6 Beds
5 Baths
2,500 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2500 - 3000
Square Footage 2,500 sqft
Price per Sqft $700
Subdivision Landsdale
MLS® Listing ID X13758572
Bedrooms 6
Property Sub-Type Freehold
Property Description
Rare Downtown Hamilton investment & redevelopment opportunity! 657, 659 & 663 King St E comprise TWO buildings with three municipal addresses: 657/659 form one building and 663 is the second. Each building is listed at $1.75M; however, SELLER REQUIRES BOTH BUILDINGS TO BE PURCHASED TOGETHER, for a combined asking price of $3.5M. Properties will not be sold separately.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! (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air, ,
Cooling None, Window air conditioner
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 10
Garage No
Private Pool No
Building
Story 3
Sewer Sanitary sewer
Others
Ownership Freehold
Virtual Tour https://www.youtube.com/watch?v=8ZVcrmDOcDM
Listed by RIGHT AT HOME REALTY
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