65 KINRADE AVENUE, Hamilton (Gibson), Ontario, L8L6L5
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:2471)
McConkey Real Estate Corp. Brokerage
- 705-868-4674
- 705-745-4321
- 705-745-4324
- charmcconkey@gmail.com
- Property Address: 65 KINRADE AVENUE, Hamilton (Gibson), Ontario, L8L6L5
- Community Name: Gibson
- Property Type: Multi-family
- Lot Size: 21.8 x 94.5 FT
- Acreage: 21.8 x 94.5 FT
- Sewage Type: Sanitary sewer
- Water Type: Municipal water
- Driveway: No Garage
- Total Parking Spaces: 2
- Structure Style: Duplex
- Storeys: 2
- Floor Space: 1500 - 2000 sqft
- Bedrooms: 5
- Bathrooms: 2-Total
- Basement Type: N/A (Unfinished)
- Heating Type: Natural gas, Forced air
- Cooling: Central air conditioning
- Exterior Type: Vinyl siding
- Foundation Type: Unknown
Listing Office: EXP REALTY
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