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23 GIBSON Avenue, Hamilton — listed at $699,900. Earn buyer cashback at closing. No catches, just more money in your pocket.
Welcome to 23 Gibson Avenue, an exceptional investment opportunity in Hamilton’s Gibson/Stipley neighbourhood. This extensively renovated 2.5-storey property features three self-contained units, offering an attractive combination of established rental income and immediate upside with one unit currently vacant. Renovated extensively back to the studs, this property provides investors with the benefit of major improvements already completed while offering a versatile multi-unit layout. The lower level features a tenanted 1-bedroom unit currently generating $1,001/month. The vacant main-floor 1-bedroom unit was previously rented for $1,600/month, providing the opportunity to secure a new tenant or accommodate an owner-occupier. The upper unit spans the second floor and loft, offering two bedrooms and currently generating $1,900/month. With the two occupied units producing $2,901 in monthly rental income and the potential for approximately $4,501/month based on the previous rent of the vacant unit, this is a compelling opportunity for both seasoned and first-time investors. Located in the established Gibson/Stipley neighbourhood, close to transit, shopping, schools, parks, and Hamilton’s downtown core, 23 Gibson Avenue offers convenient access to the amenities tenants value. Whether you're looking to expand your portfolio, enter the investment market, or explore an owner-occupied opportunity while generating rental income, this extensively renovated three-unit property deserves your attention. Book your private showing today! (id:60164)
| Room | Level | Dimensions |
|---|---|---|
| Kitchen | Basement | 8'0'' x 15'0'' |
| Utility room | Basement | 5'5'' x 4'2'' |
| 3pc Bathroom | Basement | — |
| Bedroom | Basement | 9'4'' x 9'2'' |
| Recreation room | Basement | 24'11'' x 11'11'' |
| Bedroom | Third level | 23'3'' x 21'7'' |
| 3pc Bathroom | Second level | — |
| Living room | Second level | 10'9'' x 14'4'' |
| Dining room | Second level | 6'9'' x 11'6'' |
| Kitchen | Second level | 11'9'' x 10'7'' |
| 3pc Bathroom | Main level | — |
| Bedroom | Main level | 12'2'' x 12'8'' |
| Kitchen | Main level | 13'8'' x 21'3'' |
How is the space laid out across floors?+
This is a 2.5-storey single family. The 3 bedrooms and 3 bathrooms are typically split with living areas on the main floor and bedrooms above — confirm the exact layout during a showing.
Is 23 GIBSON Avenue a good fit for a growing family?+
With 3 bedrooms and 3 bathrooms (1850 sq ft), there's room for kids plus a guest room or home office. The 2.5-storey layout keeps living and sleeping areas separated.
Does it have a basement, and is it finished?+
Yes — Finished, Full. A finished basement adds meaningful living space beyond the listed square footage.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $2,937.6, heating is forced air, natural gas. Always verify the latest figures with your agent before making an offer — these change yearly.
How is the home heated? Is it efficient?+
Heating is forced air, natural gas. Gas heating is generally the most cost-efficient option in Ontario winters.
This home was built in 1912 — what should I watch for?+
Homes from this era may have original wiring, plumbing, or insulation. Key checks: electrical panel (100 vs 200 amp), roof age, furnace age, and whether the basement has ever had water issues. A thorough home inspection is essential.
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