10
See all 10 photos
$650,000
Est. payment /mo
5 Beds
2 Baths
1,500 SqFt
Active
65 KINRADE AVENUE Hamilton (gibson), ON L8L6L5
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1500 - 2000
Square Footage 1,500 sqft
Price per Sqft $433
Subdivision Gibson
MLS® Listing ID X13541290
Bedrooms 5
Property Description
65 Kinrade Ave, Hamilton is an investment property within a portfolio. A legal duplex with a bonus room-rental upside, offered at a 6.18% in-place cap rate on current rents. This fully-tenanted, four-door property generates $48,468 in gross annual rent and $40,168 NOI, with a fifth door (basement) waiting to be rented. The main and upper duplex units are configured as a 2-bedroom main-floor apartment and a three-room upstairs unit, giving a new owner both self-contained and room-rental income in one building. Central heat and A/C, two A/C units, and two gas lines keep operating costs predictable, while separate hydro and water metering protects NOI from rising utility costs. All four occupied doors are month-to-month, giving a new owner a clear, low-risk path to reset rents to market on standard notice without waiting years for turnover. Beyond the in-place income, the basement is unfinished, has its own separate entrance, and is currently vacant - a fifth door that can be built out and rented, adding a new income stream on top of the in-place NOI without any change to the building's footprint. Situated in a tenant-dense Hamilton lower-city pocket that supports steady demand and long-term appreciation. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Central air conditioning
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 2
Garage No
Private Pool No
Building
Story 2
Sewer Sanitary sewer
Listed by EXP REALTY