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$ 6,495,000
Est. payment | /mo
26 Beds
18,879 SqFt
$ 6,495,000
Est. payment | /mo
26 Beds
18,879 SqFt
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Approx. Sqft 18879
Square Footage 18,879 sqft
Price per Sqft $344
Subdivision 143 - Stinson
MLS® Listing ID 40801471
Bedrooms 26
Year Built 1869
Lot Size 0.430 Acres
Acres 0.43
Property Sub-Type Freehold
Property Description
An exceptional opportunity to acquire a truly one-of-a-kind heritage asset in the heart of Downtown Hamilton. 16 West Ave S is a stunning converted church, thoughtfully transformed into a loft-style apartment building in 2022, seamlessly blending historic character with modern functionality. Featuring soaring ceilings, dramatic stained-glass windows, and architectural details rarely found in today's market, the property comprises 18,879 SF with 19 fully occupied units, offering an ideal unit mix of 2 bachelor suites, 10 one-bedrooms, 5 two-bedrooms, and 2 three-bedrooms, complemented by 19 surface parking spaces. The asset is fully stabilized, generating approximately $314,276 in Net Operating Income, providing immediate, predictable cash flow. The property further benefits from highly attractive assumable financing at a fixed 3.72% interest rate extending to 2032. This below-market debt materially enhances returns and offers a significant advantage in today's rate environment. Perfectly positioned steps to shops, restaurants, theatres, and everyday amenities, and just moments from the Hamilton GO Station for seamless access along the GO Transit line, this central location is unmatched. Situated in a thriving urban core anchored by McMaster University and major professional sports franchises including the Hamilton Tiger-Cats and Toronto Rock, this is a rare, turnkey investment combining strong income fundamentals, irreplaceable character, and long-term upside. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air,
Cooling Central air conditioning
Exterior
Parking Features No
Community Features High Traffic Area, Community Centre
View Y/N No
Attached Garage No
Total Parking Spaces 19
Garage No
Private Pool No
Building
Story 2
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by Real Broker Ontario Ltd.
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