12 MAYFLOWER AVENUE, Hamilton (crown Point), ON L8L2K4
12 MAYFLOWER AVENUE, Hamilton (crown Point), ON L8L2K4
12 MAYFLOWER AVENUE, Hamilton (crown Point), ON L8L2K4
12
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$505,000
Est. payment /mo
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4 Beds
2 Baths
1,100 SqFt
Active

12 MAYFLOWER AVENUE Hamilton (crown Point), ON L8L2K4

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The Goldmark Group

The Goldmark Group

+1(519) 556-9828

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Freehold

Listing Status Active

Purchase Type For Sale

Approx. Sqft 1100 - 1500

Square Footage 1,100 sqft

Price per Sqft $459

Subdivision Crown Point

MLS® Listing ID X13541324

Bedrooms 4

Property Sub-Type Freehold

Property Description

12 Mayflower Avenue, Hamilton is an investment property within a portfolio. A single detached home operated as a four-room rental, offered at a 5.61% in-place cap rate on current rents. This fully-tenanted property generates $36,000 in gross annual rent and $28,334 NOI at an asking price of $505,000.The home is configured with 3 bedrooms and a bath upstairs and 1 bedroom on the main floor, plus a bathroom in the basement. Three tenants pay $750/month each in cash rent, while the fourth room is occupied by a tenant who performs maintenance and repairs in lieu of cash rent, valued at the same $750/month - gross rent is shown inclusive of this in-kind arrangement. This property carries the lowest operating-expense load in the portfolio, so every additional dollar of room rent converts to NOI at an unusually high rate. One of the four rooms is already month-to-month, with the remainder repositionable to market as tenancies turn. The detached home sits on its own lot, offering a new owner long-term flexibility - whether continued as a room rental, converted to a single-family lease, or held for 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 1

Garage No

Private Pool No

Building

Story 2

Sewer Sanitary sewer

Others

Ownership Freehold

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12 MAYFLOWER AVENUE