102-104 Wellington St N
102-104 Wellington is a eight unit apartment building located on a main one-way road right in Downtown Hamilton, Ontario. Located just off of the popular Cannon St E and Wilson St. This building is comprised of 6 x 1-bedroom units and 2 x Bachelor units. Each unit is separately metered for hydro. The property at acquisition was in poor condition but structurally sound condition. The property was vacant which allows for a full remodel of the whole building. The new interior and exterior has now be constructed to meet the growing interest in Downtown Hamilton, ON.
Neighbourhood
Landsdale
Zoning
D5: Holding H21
Market Rents In The Area
$1600 - $1850
Property At Acquisition
This building offered significant upside potential for investment with a full remodel by converting the empty shell into 6-1 bedroom units and 2-Bachelor units. Located close to, Claremont Access, Downtown Hamilton, highway access, hospital, public transit and all the essentials.
Unit renovations to include fully-loaded kitchens (stainless steel appliances, microwaves, dishwashers) and 4 piece bathrooms, in-unit laundry and all new fixtures (windows, flooring, walls etc). The exterior landscaping will be given attention to maximize the property’s curb appeal.
Timeline of Completion
2 Year Completion
Property To Date
As of right now, all eight units are completed. Grow Property Management has been engaged to begin lease up. They are advertising all 1-bedrooms at $1,850 and Bachelor units at $1625.
Market Rents
Project Completion
$1850 & $1650 + Hydro
Q1 2023
