Pay for the apartments, get the storefront almost free. This corner mixed-use property in Beasley, steps from downtown Hamilton, offers about 3,642 sq ft for $649,900, about $178 a sq ft. Upstairs: two renovated 2-bedroom suites with quartz counters, open living space, pot lights and wall-mounted A/C, both tenanted at $1,775/month, with tenants paying their own hydro. Main floor: about 1,660 sq ft of corner commercial space with large shop windows, rented as storage at $1,000/month. Gross income is about $54,600 a year. Seller-reported costs are about $18,775 a year, for a net operating income of about $35,825: a 5.5% cap rate at list price. Value-add: raise the suites to market on turnover, re-let the main floor as retail and buy out the rental equipment, and the pro forma cap rate is about 7.4%. Owner-users: run your business from the storefront while the two suites carry most of the costs. Legal, conforming duplex over commercial per the seller, zoning D/S-378. Hamilton’s Mid-Rise Residential Zones Project (Phase 2) is before Planning Committee. Proforma available. (id:36096)
| MLS® Number | 40871207 |
| Property Type | Other |
| Neigbourhood | Beasley |
| Amenities Near By | Public Transit |
| Basement Type | Full |
| Stories Total | 2 |
| Size Exterior | 3642.0000 |
| Size Interior | 3,642 Sqft |
| Type | Residential Commercial Mix |
| Utility Water | Municipal Water |
| Acreage | No |
| Land Amenities | Public Transit |
| Sewer | Municipal Sewage System |
| Size Depth | 58 Ft |
| Size Frontage | 37 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | D/s-378 |
https://www.realtor.ca/real-estate/30414438/208-mary-street-hamilton
Contact us for more information
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
