164 Wentworth Street South, Hamilton (Stinson), L8N2Z2

Home Overview

Description

Currently generating a strong 6.2% cap rate, this well-cared-for legal triplex is ideal for investors and owner-occupiers seeking turn-key income. Strong cashflow with easy potential to convert to a legal fourplex and further increase income. Reliable tenants. With all units above ground, this property has great character, natural light, green outdoor spaces, and ample parking in both front and rear. Main floor is a large 3-bedroom unit with basement, private fenced backyard, and shed. 2nd floor has a 1-bedroom unit with spacious kitchen and 2-bedroom unit with open-concept kitchen. Unit 2 & 3 share an additional semi-private backyard. All units have en-suite washer/dryers. Three hydro meters. Additional outdoor staircase to 2nd floor. INCOME & EXPANSION POTENTIAL - Unit 1 offers potential to be split into 2 separate units, with current layout with minimal changes and zoning (R1a) that allows up to four units. Additional income potential: basement with existing separate entrance, large attic with high ceilings. Prime family neighborhood, steps to the Escarpment Rail Trail (part of Bruce Trail) and stairs to Mountain. Excellent transit options: Wentworth/Stinson/Main Street buses, Hamilton GO Station, easy access to Mountain & highways, direct bus route to McMaster University. Close to schools, grocery stores, hospitals, restaurants, cafes. Strong rental demand, especially with grad students and medical professionals. Financial info and recent capital upgrades available upon request. (id:39198)

3 days

On Market

Multi-family

Property Type

$5,030 / Year

Est. Taxes

Triplex

Style

-

Garage

Unfinished, Separate entrance, N/A, N/A

Basement