Downtown Hamilton · MLS® X13565112

183 King St E

A 3-unit mixed-use investment on King Street East: one commercial unit and two residential units, fully tenanted, with tenants paying their own gas and hydro.

Motivated Sellers
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$839,000Asking price
5.25%Cap rate
$44,020Net operating income / yr
3 Units1 commercial + 2 residential

The Opportunity

Fully tenanted income on King Street East.

A classic brick mixed-use building with ground-floor retail and two apartments above, in a busy stretch of downtown Hamilton. Separately metered utilities and no landscaping keep the owner's costs and workload low.

  • 1 commercial + 2 residential units, fully tenanted
  • Tenants pay their own separately metered gas and hydro
  • Owner pays building water only
  • No landscaping: low maintenance
  • $62,778/yr gross rental income
  • King Street East location in Hamilton

Financials

Annual net operating income

Gross rental income

Commercial unit$1,950.00/month + HST$23,400.00
Residential unit 1$1,750.00/month$21,000.00
Residential unit 2$1,531.50/month$18,378.00
Gross rental income$5,231.50/month$62,778.00

Operating expenses

Property taxes$9,612.72
Building insurance$4,265.16
Water / municipal water charges$840.00
Repairs & maintenanceRepairs, snow removal, cleaning$4,040.00
Total operating expenses$18,757.88
Net operating income (NOI)$44,020.12
Asking price$839,000
Cap rate5.25%NOI ÷ asking price
Gross rent multiplier13.4×Asking price ÷ gross annual rent
Expense ratio29.9%Operating expenses ÷ gross rent

Run your numbers

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Estimate only, based on the purchase price you enter and the NOI above. It excludes closing costs, HST and vacancy. Canadian mortgages compound semi-annually.

Schedule a Showing

See it in person.

Realtors, investors and buyers are all welcome. Tell me a little about you and pick a time that works around my live calendar.

  1. 1Tell me about you. Your contact info and whether you're a realtor, investor or buyer.
  2. 2Pick a time. My calendar only shows times I'm free. You'll get an email confirmation right away.
  3. 3Get the details. I can send leases, rent roll and expense backup ahead of the showing.

Request a showing

Step 1 of 2. Next, you'll pick your time.

Your info is only used to arrange your showing.

Listing Agent

Nathan Northmore-Carraro

Sales Representative · Royal LePage Real Estate Services Ltd., Brokerage

(647) 985-4992 nathannc@royallepage.ca Book a Showing

MLS® X13565112. Financial information provided by the seller; buyers and their agents to verify all figures. Listing information is deemed reliable but not guaranteed. Price and availability are subject to change without notice. Not intended to solicit buyers or sellers already under contract with a brokerage.