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    For Sale - 29 Gertrude Street, Hamilton, Ontario

    Est payment $2,377/mo
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    Views   3
    Time on Jump  15 day

    AI Summary *

    • Part of a diverse 15-property multifamily portfolio in Ontario.
    • Currently generating a solid cap rate with room for income growth.
    • Two units occupied with potential for increased rents on turnover.
    • Unfinished basement offers a chance to add another rental unit.
    • Legal duplex with separate hydro metering for cost-efficient management.




    29 gertrude street is an investment property within a portfolio. A legal duplex in hamilton's lower city, offering current income with a clear value-add path. The property is currently generating a 5. 44% cap rate with $26,918 in current noi and 67% occupancy, with 2 of 3 doors currently occupied. One of the three units is month-to-month, creating an opportunity to reset rents to market on turnover and increase income. The property is configured with a 2-bedroom main-floor unit and a 3-room upstairs unit. Separate hydro metering is already in place, with tenants paying their own hydro, helping keep the owner's operating costs low and allowing added rent to flow more directly to noi. The basement is currently unfinished and vacant, representing the immediate value-add opportunity. A future owner may be able to finish the basement and create a third rentable door, adding a new income stream on top of the in-place noi without changing the building's footprint, subject to buyer due diligence and any required approvals. The upstairs unit is currently month-to-month and can be brought closer to market rent on turnover, while the vacant basement provides additional rental upside through build-out. With legal-duplex designation, separate hydro metering, current noi, rent-reset potential, and a clear basement expansion opportunity, 29 gertrude street is well positioned for an investor seeking both immediate income and long-term appreciation in a tenant-dense hamilton lower-city pocket.
    Listing IDX13540144
    Address29 Gertrude Street
    CityHamilton, Ontario
    Price$495,000
    Bed / Bath4 / 2 Full
    Style2-Storey, Duplex
    ConstructionBrick Front
    TypeMulti-Family
    StatusFor Sale

    Subtype DuplexIndoor Features NoneOwnership FreeholdBasement UnfinishedFoundation UnknownHeating / Cooling Forced AirHeating Fuel GasSewer Sewer

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    Listing Agency:  EXP REALTY

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

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    29 Gertrude Street
    Hamilton , Ontario
    4 2 $495,000
    Get more info