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Royal Vista Gardens 1489 Upper Gage Av 59 Unit Apartment Building $14,500,000 CAD ($245,763 CAD/Unit) Hamilton, ON L8W 1E6
Investment Highlights
- 100% Occupied, Stabilized Investment with long-tenured tenants, providing immediate and predictable income.
- Prominent Corner Lot Location on Upper Gage Avenue with strong visibility, excellent access, and ample surface parking.
- Freehold Ownership with DE-3 / S-1009 Zoning, located in an established Hamilton Mountain residential area close to shopping, transit, and amenities.
- Energy-Efficient Geothermal Heating & Cooling System, reducing operating costs and long-term capital risk.
- Well-Maintained Adult-Living Asset offering attractive common areas, including a large party room with full kitchen and welcoming foyer.
Executive Summary
1489 Upper Gage Avenue presents a rare opportunity to acquire a fully occupied, institutional-quality multi-residential asset on Hamilton Mountain. The property is an immaculate four-storey adult-living apartment building situated on a prominent corner lot, offering strong visibility, excellent access, and long-term stability. The building comprises 59 well-maintained rental units, predominantly one-bedroom suites, catering to stable, long-tenured tenants and consistent cash flow.
Designed with durability and efficiency in mind, the property features geothermal heating and cooling, providing energy efficiency and reduced operating volatility. Common areas are well kept and include a large party room with a full commercial-style kitchen, a welcoming foyer with seating areas, and ample on-site parking. The landscaped grounds further enhance tenant retention and curb appeal.
Designed with durability and efficiency in mind, the property features geothermal heating and cooling, providing energy efficiency and reduced operating volatility. Common areas are well kept and include a large party room with a full commercial-style kitchen, a welcoming foyer with seating areas, and ample on-site parking. The landscaped grounds further enhance tenant retention and curb appeal.
Property Facts
| Price | $14,500,000 CAD | Building Class | B |
| Price Per Unit | $245,763 CAD | Lot Size | 0.91 AC |
| Sale Type | Investment | Building Size | 49,901 SF |
| No. Units | 59 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built/Renovated | 1953/2000 |
| Apartment Style | Mid-Rise | ||
| Zoning | DE-3/S-1009 | ||
| Price | $14,500,000 CAD |
| Price Per Unit | $245,763 CAD |
| Sale Type | Investment |
| No. Units | 59 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.91 AC |
| Building Size | 49,901 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1953/2000 |
| Zoning | DE-3/S-1009 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Storage Space
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 53 | - | - |
| 2+1 | 5 | - | - |
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
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Royal Vista Gardens | 1489 Upper Gage Av
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