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58 ARTHUR Avenue N, Hamilton — listed at $725,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
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. Income and expense summary available on request. 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:60164)
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $3,800, heating is forced air, natural gas. Always verify the latest figures with your agent before making an offer — these change yearly.
What's the parking situation?+
This property includes 2 spaces — Open.
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 1905 — 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.
Is there air conditioning?+
Yes — central air conditioning cooling is in place.
Is 58 ARTHUR Avenue N a good fit for a growing family?+
With 4 bedrooms and 4 bathrooms (1996 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.
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