1 / 44

Investment signal

$1,699,900

38 HESS STREET S

Save this home

Beds

—

Baths

—

Sqft

3,001

Year

—

Type

Multi-family

Suite

Investment signal

Text Hasan Open map Ask a question

Location nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Hamilton (Central). The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

About this home

An extraordinary and rarely available opportunity to acquire a prominent 2.5-storey, multi-unit asset in the heart of Hamilton's most coveted entertainment enclave-Hess Village. This distinguished mixed-use property comprises a ground-floor commercial space, three well-proportioned residential suites, and an expansive, unspoiled lower level with full potential for additional residential conversion, subject to approvals. The offering is further enhanced by dedicated rear parking-an increasingly valuable feature in this high-demand urban setting. The current income profile includes a commercial tenancy generating approximately $5,000 per month, complemented by residential suites consisting of a studio at $775 per month and two one-bedroom-plus-den units at $1,400 per month each. All tenancies are significantly below prevailing market rates, presenting a compelling opportunity for strategic rental repositioning and long-term income growth. The property can be delivered with vacant possession, affording complete flexibility for investors, end-users, or those seeking a refined live-work environment tailored to their vision. Ideally situated just steps from the newly revitalized TD Coliseum, the asset benefits from consistent and elevated foot traffic driven by concerts, sporting events, and premier live performances. Surrounding establishments thrive during event cycles, underscoring the enduring strength and desirability of this location. A truly versatile and upscale investment opportunity-offering immediate income, substantial upside, and the ability to reposition or curate a bespoke mixed-use asset within one of Hamilton's most dynamic and evolving districts. (id:65958)

Subtype: Multi-family
Structure: Multi-Family
Community: Central
Living area: 3,001 square feet
Lot dimensions: Bldg=26.75 x 124.5 FT
On market: Apr 25, 2026
Status changed: Apr 27, 2026
Annual tax: $15,873.82
Zoning: D3
Photos: 44
MLS#: X13044404
Area: HAMILTON_(CENTRAL)

Features and systems

Heating

Forced airNatural gas

Cooling

Fully air conditioned

Negative cash flow ~$1,800/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)Default 4.5% — adjust to your rate holdAmortization (years)

Cash on cash

-6.35%

Cap rate

3.59%

GRM

16.7

Break-even rent

$10,394

Financing

Down payment$339,980

Loan amount$1,359,920

Mortgage$6,891/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$779

Insurance$80

Maintenance$1,417

CapEx reserve$708

Vacancy loss$425

Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.

Mortgage estimate

Estimated $6,891/mo at 4.5% with 20% down, 30-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 27, 2026.