REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,750,000
Est. payment | /mo
2,000 SqFt
$ 1,750,000
Est. payment | /mo
2,000 SqFt
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2000
Square Footage 2,000 sqft
Price per Sqft $875
Subdivision 141 - Landsdale
MLS® Listing ID 40861595
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 Baseboard heaters,
Cooling None
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 14
Garage No
Private Pool No
Building
Story 3
Sewer Municipal sewage system
Others
Ownership Freehold
Virtual Tour https://www.youtube.com/watch?v=FZ4vshZY_k4
Listed by Right at Home Realty
Schools and Properties Nearby
Find out why customers are choosing LPT Realty to meet their real estate needs
Learn More About LPT Realty