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 Zoning Market Rents In The Area
Landsdale D5: Holding H21 $1600 - $1850
Property At Acquisition
This building offered significant upside potential for investment with a full remodel by converting the empty shell into 6 X 1 bedroom units and 2 X 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.