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499 EAST 16TH Street, Hamilton — listed at $725,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
Investors and owner-occupiers, take note! This fully legal duplex offers an incredible opportunity to build equity while generating rental income — whether you're looking to expand your portfolio or live in one unit and rent out the other for an additional source of income. This property features two updated, self-contained units: a spacious 3-bedroom main-floor unit and a well-appointed 2-bedroom basement unit. Both units feature stainless steel appliances and offer comfortable, modern living spaces that are attractive to today's tenants. With separate hydro meters, tenants can be responsible for their own electricity usage. The basement unit also offers the added bonus of no rent control, providing greater flexibility for future rental income. The property is being offered vacant, giving the new owner the flexibility to set their own rents from day one. For an owner-occupier, this creates an especially attractive opportunity: live in one unit while renting the other, generating rental income that can help offset your monthly mortgage payment and make home ownership more affordable. For investors, the property's layout provides the potential for healthy monthly cash flow, while its location helps attract a large and diverse tenant pool. Situated in a mature and established neighbourhood, this property is conveniently located close to Lime Ridge Mall, shopping, restaurants, schools, transit, everyday amenities, and major highways. With quick and easy highway access, getting around the city is a breeze — making this a highly convenient location for both homeowners and tenants. Whether you're looking to house-hack your way into home ownership, reduce your monthly carrying costs, or add a strong income-producing property to your portfolio, this fully legal duplex offers flexibility, rental income potential, updated units, and an incredible location all in one package. (id:60164)
| Room | Level | Dimensions |
|---|---|---|
| 4pc Bathroom | Main level | — |
| Utility room | Basement | — |
| 4pc Bathroom | Basement | — |
| Bedroom | Basement | 10'0'' x 11'4'' |
| Primary Bedroom | Basement | 11'0'' x 13'5'' |
| Kitchen | Basement | 13'5'' x 21'0'' |
| Bedroom | Main level | 9'0'' x 10'5'' |
| Bedroom | Main level | 9'0'' x 10'5'' |
| Primary Bedroom | Main level | 11'0'' x 12'0'' |
| Dining room | Main level | 13'5'' x 12'0'' |
| Living room | Main level | 12'0'' x 17'5'' |
| Kitchen | Main level | 9'0'' x 15'0'' |
What's the parking situation?+
This property includes 3 spaces.
Does it have a basement, and is it finished?+
Yes — Finished, Full. A finished basement adds meaningful living space beyond the listed square footage.
Is 499 EAST 16TH Street a good fit for a growing family?+
With 5 bedrooms and 2 bathrooms (1788 sq ft), there's room for kids plus a guest room or home office.
How is the home heated? Is it efficient?+
Heating is hot water radiator heat, baseboard heaters. Ask for past utility bills to understand real heating costs.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $5,559, heating is hot water radiator heat, baseboard heaters. Always verify the latest figures with your agent before making an offer — these change yearly.
Is there air conditioning?+
Yes — ductless cooling is in place.
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