The trademarks MLS®, Multiple Listing Service®, and the associated logos are owned by the Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Listing data provided by the Toronto Regional Real Estate Board (TRREB). Data is deemed reliable but not guaranteed.
INVESTMENT OPPORTUNITY | 7 MIXED-USE UNITS | 5.62% CAP RATE | $175,740 SCHEDULED ANNUAL GROSS INCOME. 45 Wellington Street N presents a rare opportunity to acquire a fully converted, income-producing mixed-use property featuring 5 residential units, 2 commercial units and additional storage income, creating a diversified revenue stream in one of Hamilton's rapidly evolving urban corridors.Fully tenanted, the property generates approximately $14,645/month in scheduled gross income, or $175,740 annually, and is offered at an attractive 5.62% capitalization rate.Extensive capital improvements include updated HVAC, plumbing and electrical systems, framing and insulation, spray foam insulation, separate hydro metering, roof and windows, on-site parking, a new garden suite, new walk-in cooler and water-powered metal fire escape, plus numerous additional upgrades.Potential financing opportunity: positioned for a potential $2M CMHC take-out under 100-point MLI Select, incorporating affordability and energy-efficiency considerations, with an estimated 9.6% cash-on-cash return, including the applicable default insurance premium.Strategically located near major transit, established amenities, employment centres and significant ongoing redevelopment, the property is well positioned to benefit from Hamilton's continued urban intensification and growth.D1 zoning provides flexibility and additional future opportunity. With diversified income, extensive improvements, an attractive cap rate and potential CMHC financing strategy, 45 Wellington Street N offers investors a compelling opportunity for current cash flow and long-term value creation.A distinctive Hamilton investment property offering scale, income and significant future potential.
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Owners vs Renters
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What’s NearbyDistances approximate
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Estimated Rental Income
Rental estimate coming soon
We’re not showing a number until we have a data source we trust. When it’s connected, this section will show:
A monthly rent range from nearby leased homes of the same type and size
The leased comparables behind it (signed-in, VOW-gated)
Gross yield at the current list price
Monthly Cost
A quick estimate to plan with. Taxes come from the listing; change the other inputs to match your situation.
Estimated monthly$10,602/mo
Mortgage (principal + interest)$9,352
Property taxFrom listing: $15,000/yr$1,250
Minimum 20% ($500,000 on this price) applies to homes priced over $1.5M in Canada; the slider starts at 20%. Confirm with a lender.
Mortgage uses Canadian semi-annual compounding. Houses-Gate doesn’t offer financing.
Estimated Budget
About how much cash you’ll need on closing day, besides the mortgage.
Down payment20% of the list price$500,000
Ontario land transfer taxProvincial brackets, no first-time refund$48,975
Legal fees & disbursementsTypical range $1,800–$2,800$1,800
Home inspectionTypical range $500–$800$600
Title insuranceTypical range $300–$600$400
Cash needed at closingEstimate$551,775
First-time buyers can get up to $4,000 back on Ontario land transfer tax. Hamilton has no municipal land transfer tax (Toronto does).
Uses Ontario’s land transfer tax brackets and the down payment set in Monthly Cost. Legal, inspection and title-insurance figures are typical ranges, not quotes.
Listing data is provided under copyright by the Toronto Regional Real Estate Board (TRREB). The data is deemed reliable but is not guaranteed to be accurate. The trademarks MLS®, Multiple Listing Service®, and the associated logos are owned by the Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose.
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor HousesGate shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
