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Est. payment | /mo
5,000 SqFt
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Est. payment | /mo
5,000 SqFt
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 5,000 sqft
Subdivision Ainslie Wood
MLS Listing ID X13709908
Annual Tax Amount $8,470
Tax Year 2025
Property Sub-Type Investment
Property Description
Exceptional investment and redevelopment opportunity approximately 400 metres from McMaster University. 1516 Main Street West is a purpose-built student rental property featuring 12 private single-bedroom units over three storeys, with four bedrooms, a shared kitchen and a shared bathroom on each floor, plus common laundry facilities. The property offers multiple investment strategies, including continued operation as student housing, renovation and repositioning to enhance rental income, or future redevelopment. Located directly along the planned Hamilton LRT corridor, with the proposed McMaster University stop nearby, the property benefits from excellent walkability, transit access and long-term intensification potential. The neighbouring properties at 1520 Main Street West and 2 Norfolk Street are also currently offered for sale, creating a potential larger scale assembly opportunity for a student housing or residential development. A rare opportunity to acquire an income-producing asset with value-add upside, redevelopment potential and strategic proximity to one of Canada's leading universities. Buyers to complete their own due diligence regarding zoning, development feasibility and future use.
Location
Province ON
County Hamilton
Area Hamilton
Zoning Transit Oriented Mixed Use Medium Density (TOC1)
Interior
Cooling Yes
Exterior
Utilities Available Yes
Lot Frontage 45.08
Lot Depth 166.93
Others
ParcelsYN No
Listed by NIDEA PARTNERS
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