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. 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: Triplex (Freehold)
• Bedrooms: 2
• 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: $2,486.00

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