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Doug Folsetter

doug@folsetter.com +1(905) 515-5494

Listed by Sandy Mackay • Real Broker Ontario Ltd.

$6,795,000

Est. payment - /mo

26 Beds

18,879 SqFt

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Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 18,879 sqft

Price per Sqft $359

MLS Listing ID 40801471

Bedrooms 26

Abv Grd Liv Area 18,879

Year Built 1869

Annual Tax Amount $56,771

Lot Size 0.430 Acres

Acres 0.43

Property Sub-Type Multi Family

Source Cornerstone

Property Description

An exceptional opportunity to acquire a truly one-of-a-kind heritage asset in the heart of Downtown Hamilton. 16 West Ave S is a stunning converted church, thoughtfully transformed into a loft-style apartment building in 2022, seamlessly blending historic character with modern functionality. Featuring soaring ceilings, dramatic stained-glass windows, and architectural details rarely found in today's market, the property comprises 18,879 SF with 19 fully occupied units, offering an ideal unit mix of 2 bachelor suites, 10 one-bedrooms, 5 two-bedrooms, and 2 three-bedrooms, complemented by 19 surface parking spaces. The asset is fully stabilized, generating approximately $314,276 in Net Operating Income, providing immediate, predictable cash flow. The property further benefits from highly attractive assumable financing at a fixed 3.72% interest rate extending to 2032. This below-market debt materially enhances returns and offers a significant advantage in today's rate environment. Perfectly positioned steps to shops, restaurants, theatres, and everyday amenities, and just moments from the Hamilton GO Station for seamless access along the GO Transit line, this central location is unmatched. Situated in a thriving urban core anchored by McMaster University and major professional sports franchises including the Hamilton Tiger-Cats and Toronto Rock, this is a rare, turnkey investment combining strong income fundamentals, irreplaceable character, and long-term upside.

Location

Province ON

County Hamilton

Area 14 - Hamilton Centre

Zoning D1

Direction East on Main St, right on West Ave

Rooms

Basement Full, Partially Finished

Kitchen 0

Interior

Interior Features Separate Hydro Meters

Heating Forced Air, Natural Gas

Cooling Central Air

Fireplace No

Appliance Built-in Microwave, Dishwasher, Dryer, Refrigerator, Stove, Washer

Laundry In-Suite

Exterior

Roof Type Asphalt Shing

Lot Frontage 153.0

Lot Depth 122.0

Garage No

Building

Lot Description City Lot, High Traffic Area, Library, Park, Place of Worship, Public Parking, Public Transit, Rec./Community Centre, Schools, Shopping Nearby

Faces East on Main St, right on West Ave

Story 2

Sewer Sewer (Municipal)

Water Municipal

Structure Type Brick

New Construction No

Others

Senior Community No

Tax ID 171770017

Ownership Freehold/None

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Doug Folsetter

+1(905) 515-5494

Sales Representative | License ID: 4729737

Sales Representative License ID: 4729737

16 West Avenue S Hamilton, ON L8N 2S1

Doug Folsetter

Key Details

Location

Rooms

Interior

Exterior

Building

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16 West Avenue S