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Est. payment /mo
5 Beds
2 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1500-2000
Subdivision Gibson
MLS Listing ID X13541290
Style 2-Storey
Bedrooms 5
Annual Tax Amount $1,800
Tax Year 2025
Property Sub-Type Duplex
Lot Depth 94.5
Lot Front 21.75
Appx SqFt 1500-2000
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.
Location
Province ON
County Hamilton
Area Hamilton
Rooms
Family Room No
Basement Unfinished
Kitchen 2
Interior
Interior Features None
Cooling Central Air
Exterior
Parking Features Available
Pool None
Roof Type Asphalt Shingle
Lot Frontage 21.75
Lot Depth 94.5
Total Parking Spaces 2
Building
Foundation Unknown
Others
Senior Community No
ParcelsYN Yes
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Listed by EXP REALTY
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