260 PROSPECT STREET S, Hamilton, Ontario, L8M2Z9

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For sale, ID#: X8152754
260 PROSPECT STREET S
Hamilton Ontario
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3 + 1 Beds
2 Bath
$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. (id:2471)

Representatives
Evelyn Roberts and Dave Roberts REALTORS®
HARVEY KALLES REAL ESTATE LTD. Brokerage - Toronto
Property Details
  • Property Address: 260 PROSPECT STREET S, Hamilton, Ontario, L8M2Z9
  • Community Name: Blakeley
  • Property Type: Single Family
  • Lot Size: 50 x 100 FT
  • Acreage: 50 x 100 FT|under 1/2 acre
  • Sewage Type: Sanitary sewer
  • Water Type: Municipal water
  • Driveway: Detached Garage
  • Total Parking Spaces: 4
  • Amenities Nearby: Hospital, Park, Schools
Structure Details
  • Structure Style: Duplex
  • Storeys: 2
  • Bedrooms: 3 + 1
  • Bathrooms: 2-Total
  • Basement Type: N/A (Unfinished)
  • Heating Type: Natural gas, Forced air
  • Cooling: Central air conditioning
  • Exterior Type: Aluminum siding
  • Appliances Included: Dishwasher, Dryer, Refrigerator, Stove, Two stoves, Washer
Room Details
Type Level Dimensions
Living room Main level 3.3 m x 3.56 m
Bedroom Main level 2.9 m x 3.1 m
Bedroom 2 Main level 2.59 m x 3.5 m
Kitchen Main level 3.35 m x 3.66 m
Dining room Main level 3.05 m x 3.81 m
Living room Upper Level 3.86 m x 5.08 m
Bedroom Upper Level 3.35 m x 3.51 m
Bedroom Upper Level 3.35 m x 2.9 m
Neighbourhood Information

Listing Offices: HARVEY KALLES REAL ESTATE LTD.

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260 PROSPECT STREET S, Hamilton, Ontario, L8M2Z9

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