198 Berko Avenue, Hamilton

LEGAL two family investment property on the highly sought after East Hamilton Mountain! Completely redone/built-out in 2023, 198 Berko Avenue offers a 3+2 bedroom suite mix (with 1 full bath per) generating $4665 in monthly gross rents with all utilities passed on to the AAA tenants! Furthermore, property features include large floor-plans (with enclosed porch — bright, glassed-in entry space shown), generous 44x114 lot, ample parking, separate hydro meters and operating at a true 5.5% cap rate. Yield calculation includes a 20% down payment, 30 year amortization, at a 4.5% interest rate with 8% in monthly contingencies (3% vacancy, 5% maintenance) while maintaining a few hundred dollars in positive cash-flow. A safe investment in a premier rental area across the street from green space with shopping and highway access nearby! Interior finishes reflect the 2023 overhaul — open-concept living spaces with light wood-look laminate flooring, pot lights throughout, large windows providing generous natural light, and neutral contemporary paint. The main kitchen features white cabinetry, subway-tile backsplash and stainless steel appliances with a modern range hood. Living areas are shown furnished with a large sectional and a gallery wall treatment, emphasizing roomy floor plans. Bathrooms and powder rooms have updated fixtures, including matte-black hardware, a round vanity mirror and modern sink/vanity shown. Outdoor living is well-appointed: a private fenced backyard with a paved patio area furnished for outdoor entertaining and a privacy trellis, plus a storage shed on the generous lot. Legal basement suite professionally converted by 555 Construction Management Inc & managed by local Property Management Company- Total Property Solutions. A very complete and sound investment opportunity. Rents are well above market value due to management (id:1945)