65 Kinrade Avenue, Hamilton, ON L8L 6L5
- $650,000
- 5
- BD
- 2
- BA
- 1,500
- SqFt
- List Price
- $650,000
- MLS#
- X13541290
- Status
- ACTIVE
- Type
- Multifamily
- SubType
- Duplex
- Style
- 2-Storey
- Bedrooms
- 5
- Bathrooms
- 2
- Living Area
- 1500-2000
- Province
- ON
- Municipality
- Hamilton
- Area
- Hamilton
- Neighborhood
- Gibson
- Subdivision
- Barton St E & Kinrade Ave.
Property Description
65 Kinrade Ave, Hamilton is an investment property within a portfolio. A legal duplex with a bonus room-rental upside, offered at a 6.18% in-place cap rate on current rents. This fully-tenanted, four-door property generates $48,468 in gross annual rent and $40,168 NOI, with a fifth door (basement) waiting to be rented. The main and upper duplex units are configured as a 2-bedroom main-floor apartment and a three-room upstairs unit, giving a new owner both self-contained and room-rental income in one building. Central heat and A/C, two A/C units, and two gas lines keep operating costs predictable, while separate hydro and water metering protects NOI from rising utility costs. All four occupied doors are month-to-month, giving a new owner a clear, low-risk path to reset rents to market on standard notice without waiting years for turnover. Beyond the in-place income, the basement is unfinished, has its own separate entrance, and is currently vacant - a fifth door that can be built out and rented, adding a new income stream on top of the in-place NOI without any change to the building's footprint. Situated in a tenant-dense Hamilton lower-city pocket that supports steady demand and long-term appreciation.
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Additional Information
- Taxes
- $1,800
- Heat Type
- Forced Air
- Heat Source
- Gas
- Air Conditioning
- Central Air
- Kitchens
- 2
- Exterior
- Vinyl Siding
- Garage Type
- None
- Pool
- None
- Parking Spaces
- 2
- Parking Type
- Available
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Listing courtesy of EXP REALTY.