260 Prospect St S, Hamilton
260 Prospect St S, Hamilton
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10 Photos
- Bedrooms: 4
- Bathrooms: 2
- MLS®: x8152754
- Type: Duplex
- Added: 62 days ago
Property Details
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:1945)
Property Information
- Cooling: Central air conditioning
- Heating: Forced air, Natural gas
- List AOR: Toronto
- Stories: 2
- Basement: Unfinished, Separate entrance, N/A
- Utilities: Sewer, Natural Gas, Electricity, Cable
- Photos Count: 10
- Parking Total: 4
- Bedrooms Total: 4
- Structure Type: Duplex
- Parking Features: Detached Garage
- Street Dir Suffix: South
- Tax Annual Amount: 3922
- Exterior Features: Aluminum siding
- Lot Size Dimensions: 50 x 100 FT
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