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 (id:38551)
Location
Details
198 Berko Avenue, , Hamilton
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Land
under 1/2 acre
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Bedrooms
Above Grade: 3 Below Grade: 2
5 -
Bathrooms
2 -
Parking
4
Rooms
198 Berko Avenue, , Hamilton
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Living Room
basement
1'0'' x 1'0'' -
Bedroom
basement
1'0'' x 1'0'' -
Bedroom
basement
1'0'' x 1'0'' -
4pc Bathroom
basement
1'0'' x 1'0'' -
Kitchen
basement
1'0'' x 1'0'' -
Bedroom
main level
1'0'' x 1'0'' -
Bedroom
main level
1'0'' x 1'0'' -
Living Room
main level
1'0'' x 1'0'' -
Kitchen
main level
1'0'' x 1'0'' -
4pc Bathroom
main level
1'0'' x 1'0'' -
Bedroom
main level
1'0'' x 1'0''
Green Hedge Realty Inc., Brokerage
Green Hedge Realty Inc., Brokerage is a full-service real estate brokerage offering traditional MLS® REALTOR® representation services at reduced commission rates.
Buyers receive approximately 1.5% cash back after closing, depending on what REALTOR® cooperating commission is offered by the seller. Sellers pay 1% one percent plus the commission they choose to offer to the co-operating REALTOR® representing the buyer.
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