58 Arthur Avenue North, Hamilton (Gibson) - Multi-family for Sale

Description

Turnkey 4-unit investment in Hamilton's Gibson neighbourhood. This legal duplex plus 2 additional units offers a total of 4 self-contained units, fully tenanted and ready for the next owner to take over. Fully renovated in 2021, all units feature modern finishes including quartz countertops, stainless steel appliances, vinyl plank flooring, subway tile backsplashes and renovated bathrooms. The main floor (Unit 1) is a 1 bed, 1 bath, the second floor (Unit 2) is a 2 bed, 1 bath, Unit 3 is a bachelor with 1 bath, and the basement (Unit 4) is a 1 bed, 1 bath. Current gross rent is $5,585/month ($67,022/year), current net operating income is approx. $53,564/year, a 7.4% cap rate. The property has 2 hydro meters and 2-car parking at the rear, accessible from both the front and the back of the property, plus street parking. Close to King St E shops and transit, the future LRT line, schools and parks, with downtown Hamilton minutes away. (id:66096)

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