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About the Listing 062222 -
Prime Downtown Development Gem & Income Producer Unmissable Opportunity: Secure a high-performing asset with unparalleled future upside. This is a rare chance to acquire six side-by-side townhouses in a prime downtown location, offering immediate and significant cash flow from day one. Zero-Friction Income: Enjoy a massive annual net operating income (NOI) of $121,397 (Gross Income: $142,692). Tenants cover all utilities directly, ensuring minimal landlord overhead. With a current CAP RATE of 6.8%, plus with 2 Units becoming Vacant, the CAP RATE can reach over 7.25% Ideal Units: Each unit is a desirable 3-bedroom townhome with a private, fenced backyard, attracting and retaining quality long-term tenants. Immediate Access: Unit #171 is vacant and ready for viewing - see the potential for yourself. Zoning already in place: The property already holds downtown zoning approval for an ambitious seven-story mixed-use development. Skip the complex initial rezoning phase and move straight to planning. Expansion Ready: The buyer has the option to pursue severance to create six individual standalone properties, or inquire about acquiring neighboring properties (potentially the entire block) for a transformative large-scale project. Vibrant Location: The surrounding area is a diverse, high-demand community, perfectly positioned for a dynamic "Live-Work-Play" concept that integrates modern residential units with ground-floor commercial space. Act Now! Whether you're seeking a strong cash-flowing asset or a large-scale development platform, this property delivers
Interior Details
- Bedrooms: 18
- Bathrooms: 6 Full
- Appliances:
- Air Cond: Window Unit(s)
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Carpet Free
- Water:
Exterior Details
- Garage Capacity: N/A
- Roof: Asphalt Shingle
- Others:
- Sewer: Sewer
Financial Details
- Tax Amount: $8,141
- Taxes w/Assessments: N/A
- Tax/Property ID: 171640098
- Tax Year: 2025
Payment Calculator
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Questions About..
167-177 Wilson St Hamilton, ON L8R 1E3
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