260 Prospect St S Hamilton, Ontario - MLS#: X8152754

$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:51158)

MLS# X8152754 – FOR SALE : 260 Prospect St S Blakeley Hamilton – 4 Beds, 2 Baths Duplex ** Legal duplex!!! Calling all investors looking for opportunity or homebuyers eager to get into the market. This house is perfectly situated in the high demand Blakely neighborhood. This property is fully leased, collecting approximate $41,000 annually with an NOI of $31,700 offering a compelling ROI, boasting a cap rate around 4.2%. The vast double lot and third separate entrance presents potential for further development and revenue. New homebuyers can live in one unit while collecting rent thereby reducing their monthly expenses between $1,500 to $2,000/m. Garage is rented separately as well. Great potential revenue generator or expense reducing property. Grab it before its gone. Buyer to verify numbers and do own due diligence as figures presented were at time of listing and may have changed. (id:51158) ** 260 Prospect St S Blakeley Hamilton **

⚡⚡⚡ Disclaimer: While we strive to provide accurate information, it is essential that you to verify all details, measurements, and features before making any decisions.⚡⚡⚡
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Property Details

MLS® Number	X8152754
Property Type	Single Family
Community Name	Blakeley
Amenities Near By	Hospital, Park, Schools
Parking Space Total	4

About 260 Prospect St S, Hamilton, Ontario

Building

Bathroom Total	2
Bedrooms Above Ground	3
Bedrooms Below Ground	1
Bedrooms Total	4
Basement Development	Unfinished
Basement Features	Separate Entrance
Basement Type	N/a (unfinished)
Cooling Type	Central Air Conditioning
Exterior Finish	Aluminum Siding
Heating Fuel	Natural Gas
Heating Type	Forced Air
Stories Total	2
Type	Duplex

Parking

Detached Garage

Land

Acreage	No
Land Amenities	Hospital, Park, Schools
Size Irregular	50 X 100 Ft
Size Total Text	50 X 100 Ft

Rooms

Level	Type	Length	Width	Dimensions
Main Level	Living Room	3.3 m	3.56 m	3.3 m x 3.56 m
Main Level	Bedroom	2.9 m	3.1 m	2.9 m x 3.1 m
Main Level	Bedroom 2	2.59 m	3.5 m	2.59 m x 3.5 m
Main Level	Kitchen	3.35 m	3.66 m	3.35 m x 3.66 m
Main Level	Dining Room	3.05 m	3.81 m	3.05 m x 3.81 m
Upper Level	Living Room	3.86 m	5.08 m	3.86 m x 5.08 m
Upper Level	Bedroom	3.35 m	3.51 m	3.35 m x 3.51 m
Upper Level	Bedroom	3.35 m	2.9 m	3.35 m x 2.9 m

Utilities

Sewer	Installed
Natural Gas	Installed
Electricity	Installed
Cable	Available

https://www.realtor.ca/real-estate/26638033/260-prospect-st-s-hamilton-blakeley