For Sale — $697,000
For Sale — $697,000
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.
Details
Property
260 Prospect Street SHamilton, Ontario, Canada
None
2-Storey
Alum Siding
50X100 Feet
X8152754
Listing provided by
Harvey Kalles Real Estate Ltd., Brokerage
March 18, 2024
March 18, 2024
Financial
For Sale$697,000
$3,922 (2023)
Utilities
YesGas
Forced Air
Municipal
Sewers
Rooms
3+12
9
Sep Entrance, Unfinished
Parking
4.0Available
Detached
Rooms
| Floor | Rooms | Dimensions | Description |
|---|---|---|---|
| Main | Living | 3.30 x 3.56 | — |
| Main | Br | 2.90 x 3.10 | — |
| Main | 2nd Br | 2.59 x 3.50 | — |
| Main | Kitchen | 3.35 x 3.66 | — |
| Main | Dining | 3.05 x 3.81 | — |
| Upper | Living | 3.86 x 5.08 | — |
| Upper | Br | 3.35 x 3.51 | — |
| Upper | Br | 3.35 x 2.90 | — |
| Main | Bathroom | — | 1x4-piece |
| Upper | Bathroom | — | 1x4-piece |
Maps and Local Amenities
✓ Elementary Schools
✓ Secondary Schools
✓ Day Care
✓ Hospitals
✓ Doctors
✓ Dentists
✓ Veterinarians
✓ Pharmacies
✓ Cinemas
✓ Restaurants
✓ Grocery Stores
✓ Liquor, Beer & Wine
✓ Fitness
✓ Pools
✓ Tennis Courts
✓ Ice Rinks
✓ Salon / Spa
✓ Banks
✓ Dry Cleaners
✓ Car Wash
✓ Attractions
✓ Places of Worship
✓ Medical Clinics
✓ Recreation Centres
✓ Secondary Schools
✓ Day Care
✓ Hospitals
✓ Doctors
✓ Dentists
✓ Veterinarians
✓ Pharmacies
✓ Cinemas
✓ Restaurants
✓ Grocery Stores
✓ Liquor, Beer & Wine
✓ Fitness
✓ Pools
✓ Tennis Courts
✓ Ice Rinks
✓ Salon / Spa
✓ Banks
✓ Dry Cleaners
✓ Car Wash
✓ Attractions
✓ Places of Worship
✓ Medical Clinics
✓ Recreation Centres
Nearby Elementary Schools
Nearby Secondary Schools
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