Residential Income in Hamilton (Stipley)

CA$499,900

90 Sherman, L8L6M4, Hamilton (Stipley), ON

Residential Income for sale in Hamilton (Stipley), 90 Sherman, L8L6M4, 1500 m²

90 Sherman, L8L6M4, Hamilton (Stipley), ON

CA$499,900

7Bed
3Bath
1500
Type: Residential Income

Description

90 Sherman Avenue N Hamilton is an investment property. Turnkey legal triplex in Hamilton's north end - and the strongest cash-flow play in this portfolio at a 8.97% cap rate on current in-place rents. This fully-tenanted, six-door property generates $58, 500 in gross annual rent and $44, 850 NOI, all for an asking price of $499, 900.Configured as three self-contained units across six rentable rooms, the building is 100% occupied and cash-flowing from day one. With five of the six doors on fixed-term leases and one already month-to-month, there's a clear, low-risk path to lifting income further as tenancies turn and rents reset to market. Recently replaced mechanicals - a new hot-water tank and furnace (2021) - mean minimal near-term capital outlay, so a new owner can focus on income growth rather than deferred maintenance. Situated in an appreciating lower-city pocket close to transit, schools, and everyday amenities, 90 Sherman offers the rare combination of high current yield, upside at turnover, and a hands-off, fully-leased operation. Ideal for an investor. (id:55532)

Location

90 Sherman, L8L6M4, Hamilton (Stipley), ON

Data

Object TypeResidential Income
Purchase PriceCA$499,900
Living Space1500 m²
Plot SizeN/A
Bathrooms3
Construction YearN/A
ConditionNot specified
RoomsN/A

Energy Information

Heating TypeForced Air, Natural Gas
Primary Energy SourceN/A
Construction YearN/A
Energy CertificateN/A
Final Energy DemandN/A
Certificate Valid UntilN/A
Energy Efficiency ClassN/A

Contact Agent

Listing Agent

R

Real Estate Agent