547-549 Main Street E Active Save Request In-Person Tour Request Virtual Tour
Hamilton,ON L8M 1H9
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,083 sqft
Price per Sqft $356
MLS Listing ID 40776981
Abv Grd Liv Area 11,883
Annual Tax Amount $27,276
Property Sub-Type Multi Family
Source Cornerstone
Property Description
An exceptional opportunity to acquire a professionally managed, income-producing property comprising 12 residential units across three buildings plus a developable lot — offering strong, reliable income today and meaningful potential for future growth.
At the west side of the site, an attractive red-brick Victorian home has been gracefully converted into three suites, each blending classic architecture with modern comfort. Two units showcase period details and generous layouts, while the top-floor studio has been fully renovated with contemporary finishes.
Adjacent to the Victorian stands a purpose-built 9-unit apartment building, combining solid construction, bright, spacious suites, and timeless appeal. Many of the residences have been thoughtfully updated, and both buildings have been exceptionally well maintained.
At the rear, a four-bay cinderblock garage provides additional income flexibility, alongside a 12-car surface parking area accessed via a City laneway.
The property enjoys a healthy rent roll with rates generally aligned to current market levels, reflecting stable, long-term tenancies and well-managed operations. At the asking price, the asset offers an attractive ~5.84% cap rate, illustrating both strength and sustainability of income.
The eastern portion of the site adds a compelling development component. The Seller has completed substantial planning and design work to sever and construct up to 16 additional residential units. Conditional severance approval and key variances (for lot sizing, parking, and setbacks) was previously granted.
A rare blend of strong in-place performance, development-ready upside, and enduring value, this offering stands out as one of Hamilton's most compelling multi-residential investment opportunities — ideally suited for CMHC-insured financing or long-term portfolio growth.
Location
Province ON
County Hamilton
Area 20 - Hamilton Centre
Zoning E/S-1594
Direction On the North side of Main St E between Wentworth and Sanford
Rooms
Basement Full,Partially Finished
Kitchen 0
Interior
Interior Features Separate Hydro Meters,Other
Heating Radiator
Cooling None
Fireplace No
Window Features Skylight(s)
Laundry In-Suite
Exterior
Parking Features Detached Garage
Garage Spaces 4.0
Roof Type Asphalt Shing,Flat
Lot Frontage 106.32
Lot Depth 137.4
Garage Yes
Building
Lot Description Ample Parking,City Lot,High Traffic Area,Open Spaces,Park,Public Transit,Rec./Community Centre,Shopping Nearby
Faces On the North side of Main St E between Wentworth and Sanford
Story 3
Sewer Sewer (Municipal)
Water Municipal
Structure Type Brick,Wood Siding
New Construction No
Others
Senior Community No
Tax ID 172010032
Ownership Freehold/None