Key Facts
- MLS® #: 40764500
- Secondary MLS® #: X12369556
- Property ID: SIRC2672769
- Property Type: Residential, Single Family Detached
- Living Space: 1,850 sq.ft.
- Year Built: 1964
- Bedrooms: 3+2
- Bathrooms: 2
- Parking Spaces: 4
- Listed By:
- Revel Realty Inc.
Property Description
LEGAL two family investment property on the highly sought after East Hamilton Mountain! Completely redone/built-out in 2023, 198 Berko Avenue offers a 3+2 bedroom suite mix (with 1 full bath per) generating $4665 in monthly gross rents with all utilities passed on to the AAA tenants! Furthermore, property features include large floor-plans (with enclosed porch), generous 44x114 lot, ample parking, separate hydro meters and operating at a true 5.5% cap rate. Yield calculation includes a 20% down payment, 30 year amortization, at a 4.5% interest rate with 8% in monthly contingencies (3% vacancy, 5% maintenance) while maintaining a few hundred dollars in positive cash-flow. A safe investment in a premier rental area across the street from green space with shopping and highway access nearby! Legal basement suite professionally converted by 555 Construction Management Inc & managed by local Property Management Company- Total Property Solutions. A very complete and sound investment opportunity. Rents are well above market value due to management
Rooms
- TypeLevelDimensionsFlooring
- KitchenMain0' 11.8" x 0' 11.8"Other
- BedroomMain0' 11.8" x 0' 11.8"Other
- Living roomMain0' 11.8" x 0' 11.8"Other
- BedroomBasement0' 11.8" x 0' 11.8"Other
- BathroomBasement0' 11.8" x 0' 11.8"Other
- KitchenBasement0' 11.8" x 0' 11.8"Other
- BathroomMain0' 11.8" x 0' 11.8"Other
- Living roomBasement0' 11.8" x 0' 11.8"Other
- BedroomBasement0' 11.8" x 0' 11.8"Other
- BedroomMain0' 11.8" x 0' 11.8"Other
- BedroomMain0' 11.8" x 0' 11.8"Other
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Location
198 Berko Avenue, Hamilton, Ontario, L8V 2R5 Canada
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- Principal and Interest 0
- Property Taxes 0
- Strata / Condo Fees 0