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10 FAIRLEIGH AVENUE N, Hamilton (Gibson) — listed at $559,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
Exceptional opportunity to own a legal duplex with a separate basement apartment, offering strong income potential and immediate upside. This well-maintained multi-unit property features three self-contained residential units, with two units currently vacant, allowing the new owner to secure market rents immediately or occupy one unit while generating income from the others. ALL UNITS will be VACANT as of end of September !! Pick your own tenants! Unit 1 (Main Floor): Bright and spacious 1-bedroom apartment. Unit 2 (Upper Level): Large 3-bedroom apartment featuring an expansive finished attic space, ideal for a home office, recreation room, additional living area, or storage. Unit 3 (Basement): Renovated 1-bedroom apartment, updated approximately one year ago. The property previously generated approximately $4,700/month in gross rental income, with rents of approximately $1,400/month (Unit 1, Vacant on September 1st), $2,100/month (Unit 2, Vacant), and $1,250/month (Unit 3, Vacant end of September). Tenants pay their own utilities, helping minimize operating expenses, and the property benefits from two separate hydro meters. Ideal for investors seeking strong cash flow and long-term appreciation or owner-occupants looking for a mortgage helper, this property offers exceptional flexibility and income-generating potential. The vacant units provide an immediate opportunity to maximize returns based on current market conditions. Conveniently located just minutes from Hamilton General Hospital, the future LRT corridor along Highway 8/Main Street East, West Harbour GO Station, Downtown Hamilton, schools, parks, shopping, public transit, and major commuter routes. This central location provides excellent connectivity and access to Hamilton's growing employment, healthcare, and transportation hubs. A rare opportunity to acquire a versatile income-producing property with immediate leasing flexibility, strong rental demand, and outstanding long-term investment potential. (id:60164)
Is there air conditioning?+
Yes — central air conditioning cooling is in place.
Is this a good starter home?+
At $559,000, this is priced in starter-home territory for Hamilton (Gibson). With multiple bedrooms, it has room to grow into. Factor in property taxes when calculating your true monthly cost.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $3,526.38, heating is forced air, natural gas. Always verify the latest figures with your agent before making an offer — these change yearly.
Does it have a basement, and is it finished?+
Yes — Finished, Apartment in basement, N/A, N/A. A finished basement adds meaningful living space beyond the listed square footage.
Is 10 FAIRLEIGH AVENUE N a good fit for a growing family?+
With 5 bedrooms and 3 bathrooms, there's room for kids plus a guest room or home office. The 2.5-storey layout keeps living and sleeping areas separated.
What's the parking situation?+
This property includes 0 spaces — No Garage.
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