260 Prospect Street No longer available

Hamilton, Blakeley, L8M 2Z9

$697,000

Description

Listed by HARVEY KALLES REAL ESTATE LTD..

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.

Location

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  • Address: 260 Prospect Street
  • Neighborhood: Blakeley
  • City: Hamilton
  • State: Ontario
  • Postal Code: L8M 2Z9

Property Details

  • Property ID: X8152754
  • Property Price: $697,000
  • Style: Duplex, 2-Storey
  • Sq/Ft: 1100-1500
  • Rooms: 9
  • Bedrooms: 3+1
  • Bath: 2
  • Garages Spaces: 2
  • Garage: Detached
  • Parking Spaces: 4
  • Year Built: 100+
  • A/C: Central Air
  • Basement: Sep Entrance, Unfinished
  • Den: Y
  • Elevator: N
  • Exterior: Alum Siding
  • Heating: Forced Air
  • Fireplace: N
  • Taxes: $3,922.00 (2023)
  • Acreage: < .50 Acres
  • Lot: 100.00x50.00 (Feet)

Room details and dimensions

Statistics for similar Duplex homes in Blakeley

The graph below compares the average list price and average sale price of homes in this neighborhood by month for the last 24 months. When average sale price is greater than average list price, this may suggest a buyer's market. When average sale price is lower than the average list price this may suggest a seller's market.

Average days on market for similar Duplex homes in Blakeley

The graph below illustrates the average days on market for homes in this neighborhood. The yellow area may indicate a buyer's market, the green area may indicate a balanced market and the red area may indicate a seller's market.

Number of transactions for similar Duplex homes in Blakeley

Property History

This property has been sold 1 time before. To view this property's sale price history please sign in or register:


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Recently Sold

    • Sold 53 days ago

    98 Mill Street

    Brampton, Downtown Brampton, L6X 1T6

    $749,000

    $000000

  • Contact Manoj Kukreja

    Sales Representative, Re/max Premier Inc., Brokerage
    (647) 576 - 2100

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