Welcome to 203 John Street North, a stabilized, 3-unit, turn-key investment property offering a staggering *7.85% Cap Rate* right in the heart of Hamilton. With an NOI of $39,178.19, this property is structured as a legal duplex plus a non-conforming basement unit, providing three distinct, income-producing living spaces. Completely taken down to the studs during a previous full-gut renovation, this asset offers total peace of mind. Major capital expenditures have already been addressed, including modernized electrical, updated plumbing, a newer roof (~10 years), and an upgraded furnace (under 15 years).Currently generating a robust $52,374 in Gross Annual Income ($4,364.50/month) with at-market rents, the building is perfectly optimized for operational efficiency. The suite mix includes a bright 1-bedroom main-floor unit, a spacious 2-bedroom upper unit complete with a versatile loft, and a functional 1-bedroom lower level. Main and upper tenants pay their own hydro bills.Complete with convenient rear laneway access and a dedicated parking pad, this property is a rare find. Whether you are scaling your portfolio with a high-performing, low-maintenance asset or seeking the ultimate house-hack to offset your mortgage, 203 John St N delivers unmatched financial performance and beautiful curb appeal. (id:2493)
Property Type:
Multi-family
Property Attached:
Yes
Living Area (Min):
1,500 sq. ft.139 m2
Living Area (Max):
2,000 sq. ft.186 m2
Taxes:
$3,525.89 /
-
Community:
Beasley
Features:
Separate Electricity Meters
Exterior Features:
Brick, Stucco
Structure Type:
Duplex
Utilities:
Sewer, Electricity, Cable
Appliances Included:
Water meter, Water Heater
Bedrooms:
5
Bedrooms Above Grade:
4
Bedrooms Below Grade:
1
Bathrooms:
3.0
Cooling:
Central air conditioning
Fireplace:
No
Foundation:
Unknown
Heating:
Forced air, Natural gas
# Storeys:
2.5
Water:
Municipal water
Sewer:
Sanitary sewer
Basement:
Finished, Apartment in basement, Separate entrance, N/A
