5 Bedroom
3 Bathroom
2,000 - 2,500 ft2
Central Air Conditioning
Forced Air
$588,900
Exceptional opportunity to own a legal duplex with a separate basement apartment, offering strong income potential and immediate upside. This well-maintained multi-unit property features three self-contained residential units, with two units currently vacant, allowing the new owner to secure market rents immediately or occupy one unit while generating income from the others. Unit 1 (Main Floor): Bright and spacious 1-bedroom apartment. Unit 2 (Upper Level): Large 3-bedroom apartment featuring an expansive finished attic space, ideal for a home office, recreation room, additional living area, or storage. Unit 3 (Basement): Renovated 1-bedroom apartment, updated approximately one year ago. The property previously generated approximately $4,700/month in gross rental income, with rents of approximately $1,400/month (Unit 1), $2,100/month (Unit 2), and $1,250/month (Unit 3). Tenants pay their own utilities, helping minimize operating expenses, and the property benefits from two separate hydro meters. Ideal for investors seeking strong cash flow and long-term appreciation or owner-occupants looking for a mortgage helper, this property offers exceptional flexibility and income-generating potential. The vacant units provide an immediate opportunity to maximize returns based on current market conditions. Conveniently located just minutes from Hamilton General Hospital, the future LRT corridor along Highway 8/Main Street East, West Harbour GO Station, Downtown Hamilton, schools, parks, shopping, public transit, and major commuter routes. This central location provides excellent connectivity and access to Hamilton's growing employment, healthcare, and transportation hubs. A rare opportunity to acquire a versatile income-producing property with immediate leasing flexibility, strong rental demand, and outstanding long-term investment potential. (id:50976)
Property Details
|
MLS® Number
|
X13451952 |
|
Property Type
|
Single Family |
|
Community Name
|
Gibson |
|
Equipment Type
|
Water Heater |
|
Features
|
Carpet Free |
|
Rental Equipment Type
|
Water Heater |
Building
|
Bathroom Total
|
3 |
|
Bedrooms Above Ground
|
4 |
|
Bedrooms Below Ground
|
1 |
|
Bedrooms Total
|
5 |
|
Age
|
51 To 99 Years |
|
Appliances
|
All, Dryer, Range, Stove, Refrigerator |
|
Basement Development
|
Finished |
|
Basement Features
|
Apartment In Basement |
|
Basement Type
|
N/a, N/a (finished) |
|
Construction Style Attachment
|
Detached |
|
Cooling Type
|
Central Air Conditioning |
|
Exterior Finish
|
Brick |
|
Foundation Type
|
Poured Concrete |
|
Heating Fuel
|
Natural Gas |
|
Heating Type
|
Forced Air |
|
Stories Total
|
3 |
|
Size Interior
|
2,000 - 2,500 Ft2 |
|
Type
|
House |
|
Utility Water
|
Municipal Water |
Parking
Land
|
Acreage
|
No |
|
Sewer
|
Sanitary Sewer |
|
Size Depth
|
44 Ft ,8 In |
|
Size Frontage
|
21 Ft |
|
Size Irregular
|
21 X 44.7 Ft ; 21.04 X 42.58 X 29.06 X 44.80 |
|
Size Total Text
|
21 X 44.7 Ft ; 21.04 X 42.58 X 29.06 X 44.80|under 1/2 Acre |
|
Zoning Description
|
Toc-3 |
https://www.realtor.ca/real-estate/29911530/10-fairleigh-avenue-n-hamilton-gibson-gibson
