28 DALE Avenue new Save Request In-Person Tour Request Virtual Tour
Hamilton,ON L8G3L9
Key Details
Property Type Single Family Home
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 2,263 sqft
Price per Sqft $486
Subdivision 515 - Battlefield
MLS Listing ID 40765820
Style Bungalow
Bedrooms 6
Year Built 1956
Property Sub-Type Freehold
Property Description
Fantastic opportunity to own a fully renovated, accessible and legally converted Residential Care Home in prime Stoney Creek! This turnkey investment not only offers great income potential but also makes a meaningful difference in the community, with immediate operation possible for independent living, low care, or maximizing revenue with a higher level of care (see supplements). Capable of generating well over $200,000 in net operating income, this customizable asset carries reasonable operating expenses and sits in a beautiful residential neighbourhood within walking distance to parks, grocery, pharmacy, medical centers, Starbucks, and more. Offering 6 bedrooms (3+3), 2 full bathrooms, 2 kitchens and a generous 75x100 lot with a large, private backyard, 28 Dale Avenue could be the next address in your commercial portfolio with the potential to generate a cap rate well into the double digits! Renovated top to bottom with wheelchair accessibility in mind, it includes a vertical lift at the main entrance, tilt mirrors and grab bars in bathrooms, widened doorways, no transition flooring, remote-control blinds, plus external waterproofing and replacement of basement clay pipes. Permitted approvals are also in place to convert the existing garage (with optional interior lift) into 450 sq ft of additional living space, perfect for a long-term tenant or on-site care provider. Adding further flexibility, the property is also available for rent with the main floor offered at $3,000/month plus 60% of gas, water, and hydro, and the lower level at $2,000/month plus 40% of gas, water, and hydro. All development fees for the conversion have been fully paid ($77,000 value), making this a rare chance to acquire a hassle-free, income-generating property with endless options for returns in a prime location. (id:24570)
Location
Province ON
Rooms
Kitchen 2.0
Interior
Heating Forced air,
Cooling Central air conditioning
Exterior
Parking Features Yes
View Y/N No
Building
Story 1
Sewer Municipal sewage system