47 Nightingale Street, Hamilton, ON L8L 1R7
- $600,000
- 6
- BD
- 2
- BA
- 1,100
- SqFt
- List Price
- $600,000
- MLS#
- X13544482
- Status
- ACTIVE
- Type
- Single Family Residential
- SubType
- Detached
- Style
- 2 1/2 Storey
- Bedrooms
- 6
- Bathrooms
- 2
- Living Area
- 1100-1500
- Province
- ON
- Municipality
- Hamilton
- Area
- Hamilton
- Neighborhood
- Landsdale
- Subdivision
- Wentworth St. N. & Nightingale St.
Property Description
47 Nightingale Street, Hamilton is an investment property within a portfolio. A four-door property combining a room-based upper unit with a self-contained basement suite, offered at a 5.83% in-place cap rate on current rents. This fully-tenanted property generates $46,200 in gross annual rent and $34,950 NOI/Profit. The basement is operated as a 3-room unit with its own living room, kitchen, and bathroom, sitting below a 3-door upper unit. Three of the four doors are already month-to-month, giving a new owner a clear, near-term path to reset rents to market on standard notice without waiting years for turnover. The room-based configuration plus a separate basement unit allows income to be grown door-by-door rather than all at once. 2-car parking at the rear adds a rentable amenity in a parking-constrained lower-city location, with further upside available by renting the spots separately.
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Additional Information
- Taxes
- $2,556
- Heat Type
- Forced Air
- Heat Source
- Gas
- Air Conditioning
- Central Air
- Kitchens
- 2
- Exterior
- Brick
- Garage Type
- None
- Pool
- None
- Parking Spaces
- 2
Mortgage Calculator
Listing courtesy of EXP REALTY.