220 EMERALD Street N, Hamilton, Ontario, L8L5K8

Property Description

You really can't miss this value added 3-unit investment that not only makes a strong statement on the street, but is a strong investment too! Not only a bold facade, but a bold 8% potential cap rate make this solid triplex an ideal mix of immediate income and plenty of opportunity to be realized. The fully renovated rear one-bedroom unit is tenanted, while the front studio and second-floor one-bedroom are vacant and ready for updates, allowing you to set market rents and select tenants. The main floor could be consolidated back into one unit for the owner who may want to live in and rent the upper unit. Recent improvements include a complete frame-in renovation of the rear unit, as well as new furnace and hot water tank (2021), updated wiring with 200-amp breaker panel and some exterior brick repointing with the front and side painted (2022), rear stairs replaced (2019),. Two rear parking spaces on a concrete driveway with paved alley access, plus proximity to downtown and public transit routes makes it a very attractive prospect to tenants. A practical & profitable opportunity for investors to build long-term equity in an improving Lansdale neighbourhood. (id:64974)

Quick Facts

• Property Type: House (Freehold)
• Style: 2 Level
• Bedrooms: 2 (2 above)
• Bathrooms: 3
• Living Area: 1,324 sq ft (123.0 m²)
• Above Grade: 1,324 sq ft (123.0 m²)
• Year Built: 1891
• Ownership: Freehold
• Attached: Yes
• Parking: 2 spaces
• Lot Size: 0.0500 acres (0.02 ha)
• Frontage: 24 ft (7.3 m)

Costs

• Annual Taxes: $2,490.00

Listing Provided by: Royal LePage NRC Realty Inc.
Board: Cornerstone Association of REALTORS®
Data provided via CREA DDF®.