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.
City: Hamilton
Neighborhood: Blakeley
| Listing Date | DOM | List Price | Sold Price | Event | MLS ID |
|---|---|---|---|---|---|
| Feb 22, 2024 | 25 | $749,000 | N/A | Terminated | X8084644 |
Sold Comparables homes near Prospect St, Hamilton
Located at 260 Prospect St S , this Hamilton house was listed for $697,000. This house's size is 1100-1500 Sqft. It has 3 bedrooms and 2 bathrooms. The property includes the following rooms: Living, Br, 2nd Br, Kitchen, Dining, Living, Br, Br. This property comes with 4 parking spots. 260 Prospect St S, Hamilton is situated in the Blakeley neighbourhood.
MLS#: X8152754 · $697,000 · 3 bedroom house in Blakeley, Hamilton