Learn more about this property online at:
https://www.collierscanada.com/p-can2011023
https://www.collierscanada.com/p-can2011023
- Sold
SOLD
Colliers National Multifamily Group – Toronto has been exclusively retained by Hamilton and District Senior Citizens’ Home “1880 Main Street West” Incorporated (the “Vendor”) for the sale of 1880 Main Street West (the “Property”). The Property is being offered unpriced on an “as-is, where-is” basis.
The Property contains 50 suites on 5-storeys (inclusive of a lower-level walk-out).
It is currently managed by a non-profit Board of Directors as a senior’s affordable housing apartment building.
A future owner has the option of continuing with affordable housing or converting the units to market pricing upon turnover.
Current residents enjoy rents inclusive of hydro and priced significantly below market rates. There is significant NOI upside of approximatively 150% if all units were leased at market rents.
The Property is in excellent condition with numerous capital upgrades completed in recent years. Up-to-date environmental and building condition assessment reports are available in the Virtual Data Room.
Suite Mix
45 One-Bedroom Units
5 Two-Bedroom Units
Colliers National Multifamily Group – Toronto has been exclusively retained by Hamilton and District Senior Citizens’ Home “1880 Main Street West” Incorporated (the “Vendor”) for the sale of 1880 Main Street West (the “Property”). The Property is being offered unpriced on an “as-is, where-is” basis.
The Property contains 50 suites on 5-storeys (inclusive of a lower-level walk-out).
It is currently managed by a non-profit Board of Directors as a senior’s affordable housing apartment building.
A future owner has the option of continuing with affordable housing or converting the units to market pricing upon turnover.
Current residents enjoy rents inclusive of hydro and priced significantly below market rates. There is significant NOI upside of approximatively 150% if all units were leased at market rents.
The Property is in excellent condition with numerous capital upgrades completed in recent years. Up-to-date environmental and building condition assessment reports are available in the Virtual Data Room.
Suite Mix
45 One-Bedroom Units
5 Two-Bedroom Units
