18 Unit Residential
Bedrooms: 1 x 0 bd / 3 x 1 bd / 12 x 2 bd / 2 x 3 bd
Bathrooms: 18
The Opus Team is pleased to present 94-96 East Ave S, a highly desirable purpose-built 18-unit multi-residential building in the Stinson neighbourhood of Hamilton, ON.
This is an excellent investment opportunity - a charming multiplex income property fully tenanted with room to bolster rent roll.
Most apartments are the desirable 2 bedroom units at 12. There is also 1 bachelor, 3 - 1 bedroom and 2 - 2 bedrooms with den. All units are separately metered.
This property boasts an already strong P&L with lift potential. This investment will only get better and better over time. Don’t miss out on this great opportunity.
Prime Location
94-96 East Avenue S is located just east of downtown Hamilton. Walking distance to shops, restaurants, schools, hospitals, public transit, and GO station, the property is uniquely located to attract a great tenant base. It is also only a few blocks away from the newly planned hamilton LRT.
Value-Add Opportunity
94-96 East Avenue S offers the strategic investor an opportunity to add value by increasing rents and reducing operating expenses. Estimated 41% upside to market rents, with upward pressure on rents expected to continue given the prime location and surging rental demand.
Strong and Stable Rental Market
The demand for apartment rentals across Hamilton is strong and is expected to continue to strengthen with elevated interest rates and a constrained supply. “Rentals in Hamilton continue to be in high demand, with the city’s vacancy rate for purpose-built apartments sinking to 1.9 per cent in 2022 — the lowest it’s been since 2002” Landlords are benefitting from high numbers of rental applications and able to select increasingly strong tenant profiles as more and more prospective tenants compete for limited availabilities.
This investment will only get better and better over time. Don’t miss out on this great opportunity.
Current NOI: $203,771
Stabalized NOI: $341,762
Rent Upside: 36%
Lot Size
Area: 7,642.37 ft² (0.175 ac)
Perimeter: 354.33 ft
Measurements: 104.93 ft x 72.51 ft x 105.97 ft x 72.57 ft
Frontage: 105.75 ft.
Depth: 72.42 ft
2023 Taxes: $46,650
ARN: 251803020300280
PIN: 171770086
Legal Description
PT LTS 120, 121 & 122, PL 223 , PART 2 , 62R-7813 , S/S OF KING ST ; HAMILTON
Contact us for more information about this property.
Sales Representative
416-414-6836
1044 Cannon St E, Hamilton, Ontario, L8L 2H7
Office: (905) 308-8333
Sales Representative
416-303-9030
© 2014-2023 THE OPUS TEAM. KELLER WILLIAMS COMPLETE REALTY, 1044 Cannon St E, Hamilton, Ontario, CANADA L8L 2H7. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN LAWYER, ARCHITECT OR ZONING EXPERT.
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