663 King Street E,Hamilton, ON L8N 1E5
Hamilton, ON L8N 1E5
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!
Details
| MLS # | 40861595 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 13 |
| Listing Provided By | Right at Home Realty | Youming Zhao |
Features
| SQ Feet | 2,000 |
|---|---|
| Basement | Y |
| Story(s) | 3 |
| Zoning | TOC1 |
| Acreage | 0.06 |
Interior
| Interior Features | Upgraded Insulation, Other |
|---|---|
| Cooling | None |
| Cooling Yes / No | No |
| Heating | Baseboard, Natural Gas |
| Heating Yes / No | Yes |
| Laundry Features | Coin Operated |
Exterior
| Lot Features | Public Parking, Public Transit |
|---|---|
| Construction Materials | Brick |
| Roof | Flat |
| Foundation Details | Block, Concrete Block |
Parking
| Open Parking Yes / No | Yes |
|---|
Utilities
| Sewer | Sewer (Municipal) |
|---|
Taxes
| Tax Annual Amount | 65000 |
|---|
Area Information
| Province | ON |
|---|---|
| County | Hamilton |
| City | Hamilton |
| Postal Code | L8N 1E5 |
| Area | 14 Hamilton Centre |
| Subarea | 141 Landsdale |
| Community Name | 141 Landsdale |
| Listing VS Median (in 141 Landsdale) | |
Price: $1,750,000 low | high Med: $2,600 sqft: 2,000 low | high Med: 808 $ / sqft: $875 low | high Med: $3 On site: 13 low | high Med: 14 | |
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Learn More About This Property
| Province | ON |
|---|---|
| County | Hamilton |
| City | Hamilton |
| Postal Code | L8N 1E5 |
| Area | 14 Hamilton Centre |
| Subarea | 141 Landsdale |
| Community Name | 141 Landsdale |
| Listing VS Median (in 141 Landsdale) | |
Price: $1,750,000 low | high Med: $2,600 sqft: 2,000 low | high Med: 808 $ / sqft: $875 low | high Med: $3 On site: 13 low | high Med: 14 | |
