Cash Flow Goldmine in Gibson/Stipley! Projected Income of $81,000 with Unheard-of Cap Rate. Dont Miss This Legal Fully vacant triplex is an absolute standout, offering unique potential to have your mortgage paid for you. Whether youre an investor or homeowner looking to live in one unit while renting the others, the potential is undeniable. With projected annual rent of approx. $81,000 and estimated expenses of around $6,800, this property could deliver a potential Net Operating Income (NOI) of $74,200, offering unheard-of returns with double-digit cap rate. Each of the three fully renovated units boasts nearly 1,000 sq. ft. of living space, in-suite laundry, modern kitchens w/new flring, upgraded plumbing, electrical wiring, fully renovated bathrms, and all appliances. Recent waterproofing ensures the property is protected for years to come. Separate gas and hydro meters for each unit keep operating costs low, making this property a potential cash flow powerhouse. Located in one of Hamiltons most vibrant neighborhoods, just steps from Tim Hortons Field, home of the Hamilton Tiger-Cats, & near Gage Park & trendy dining spots, this propertys location is ideal for tenants & owners alike. Whether youre looking to capitalize on this investment or settle into one of the units while renting out the others, this triplex offers a stress-free ownership experience with everything already upgraded from top to bottom. Dont miss out on this incredible income-generating potential (id:31697)
| MLS® Number | X9303894 |
| Property Type | Single Family |
| Community Name | Gibson |
| ParkingSpaceTotal | 2 |
| BathroomTotal | 3 |
| BedroomsAboveGround | 5 |
| BedroomsBelowGround | 2 |
| BedroomsTotal | 7 |
| Appliances | Dryer, Microwave, Refrigerator, Stove, Washer |
| BasementDevelopment | Finished |
| BasementFeatures | Separate Entrance |
| BasementType | N/a (finished) |
| ExteriorFinish | Aluminum Siding, Stone |
| FoundationType | Block |
| HeatingFuel | Natural Gas |
| HeatingType | Heat Pump |
| StoriesTotal | 3 |
| Type | Triplex |
| UtilityWater | Municipal Water |
| Acreage | No |
| Sewer | Sanitary Sewer |
| SizeDepth | 90 Ft |
| SizeFrontage | 21 Ft ,8 In |
| SizeIrregular | 21.71 X 90 Ft |
| SizeTotalText | 21.71 X 90 Ft |
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Second Level | Kitchen | 5.26 m | 3.05 m | 5.26 m x 3.05 m |
| Second Level | Bedroom | 3.23 m | 2.69 m | 3.23 m x 2.69 m |
| Second Level | Bedroom | 3.23 m | 3.17 m | 3.23 m x 3.17 m |
| Third Level | Bedroom | 4.42 m | 3 m | 4.42 m x 3 m |
| Basement | Bedroom | 3.66 m | 4.27 m | 3.66 m x 4.27 m |
| Basement | Bedroom | 3.66 m | 3 m | 3.66 m x 3 m |
| Basement | Kitchen | 2.79 m | 2.84 m | 2.79 m x 2.84 m |
| Basement | Living Room | 5.03 m | 2.95 m | 5.03 m x 2.95 m |
| Main Level | Kitchen | 3.3 m | 2.84 m | 3.3 m x 2.84 m |
| Main Level | Living Room | 5.23 m | 3.45 m | 5.23 m x 3.45 m |
| Main Level | Bedroom | 3.84 m | 3.33 m | 3.84 m x 3.33 m |
| Main Level | Bedroom | 3.3 m | 3.35 m | 3.3 m x 3.35 m |
https://www.realtor.ca/real-estate/27376796/68-kinrade-avenue-hamilton-gibson-gibson
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