260 PROSPECT STREET S, Hamilton, Ontario L8M 2Z9
$697,000.00
- 4 bedrooms
- 2 bathrooms
Legal duplex opportunity! Ideal for first-time homebuyers looking to minimize their monthly payments or investors focused on long-term ROI potential. Located in the highly sought-after Blakely neighborhood, this property is a valuable find. Currently fully leased, it generates approximately $41,000 in annual revenue with a net operating income (NOI) of $31,700, reflecting a cap rate of about 4.5%. Featuring a vast double lot and a third separate entrance, there's substantial scope for further development and additional income for a savvy investor. First-time buyers can significantly reduce their living expenses by occupying one unit and renting out ... read more
Legal duplex opportunity! Ideal for first-time homebuyers looking to minimize their monthly payments or investors focused on long-term ROI potential. Located in the highly sought-after Blakely neighborhood, this property is a valuable find. Currently fully leased, it generates approximately $41,000 in annual revenue with a net operating income (NOI) of $31,700, reflecting a cap rate of about 4.5%. Featuring a vast double lot and a third separate entrance, there's substantial scope for further development and additional income for a savvy investor. First-time buyers can significantly reduce their living expenses by occupying one unit and renting out the other, potentially saving between $1,500 to $2,000 monthly. Even the garage contributes to the revenue, being rented out separately. This property is not only a lucrative investment but also a smart way to reduce housing costs. Prospective buyers should verify all financials and conduct their due diligence, as the figures presented are based on the listing date and may have changed. All tenants are willing to stay. (id:25417)
- Listing ID: X8152754
- Property Type: Single Family
Property | |
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Lot Size: | 50 by 100 FT|under 1/2 Acre |
Parking: | Detached Garage 4 Spaces |
Building | |
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Type: | Single Family Duplex |
Appliances: | Dryer, Refrigerator, Stove, Two Stoves, Washer and Dishwasher |
HVAC: | Central Air Conditioning, Fireplace and Forced Air Natural Gas |
Exterior: | Aluminum Siding |
Basement: | N/A (Unfinished) |
Utilities: | Cable and Sanitary Sewer |
Location | |
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City: | Hamilton |
Province: | Ontario |
Nearby Amenities: | Hospital, Park and Schools |
Rooms | Level | Dimensions |
---|---|---|
Living room | Main level | 3.3 m x 3.56 m |
Bedroom | Main level | 2.9 m x 3.1 m |
Bedroom 2 | Main level | 2.59 m x 3.5 m |
Kitchen | Main level | 3.35 m x 3.66 m |
Dining room | Main level | 3.05 m x 3.81 m |
Living room | Upper Level | 3.86 m x 5.08 m |
Bedroom | Upper Level | 3.35 m x 3.51 m |
Bedroom | Upper Level | 3.35 m x 2.9 m |
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