143 Sherman Avenue N,Hamilton (Gibson), ON L8L6M3
Hamilton (Gibson), ON L8L6M3
Description
143 Sherman Avenue N, Hamilton is an investment property within a portfolio. Fully-renovated duplex with a bonus attic apartment in a strong lower-city location - the highest-income property among the portfolio's new additions, offered at a 5.50% in-place cap rate on current rents. This fully-tenanted, five-door property generates $70,020 in gross annual rent and $46,204 NOI at an asking price of $840,000.The main and upper duplex units are configured as a 2-bedroom apartment and a three-room mid-level unit (one room with a private ensuite), with a self-contained one-bedroom attic apartment above producing additional income. The building was fully rebuilt and modernized following a 2021 fire, meaning all major systems, finishes, and layouts are effectively new. Separate metering - three hydro meters and two gas meters - is a significant advantage in this portfolio: it opens the door to shifting utility costs to tenants over time and cleanly submetering by unit, protecting NOI against rising utility costs. Off-street parking for four (three at the rear, one at the front) adds a rentable amenity in a location where street parking is at a premium. Three of the five doors are month-to-month or expiring, giving a new owner a clear, low-risk path to reset rents to market on standard notice without waiting years for turnover - and the mix of self-contained apartments and rentable rooms lets income be grown door-by-door rather than all at once. Combined with the fresh renovation, that means minimal near-term capital outlay: a new owner can focus on income growth rather than deferred maintenance. Situated in an appreciating lower-city pocket close to transit, schools, and everyday amenities. (id:13843)
Details
| MLS # | X13530234 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 111 |
| Listing Provided By | EXP REALTY | Mina Bishay |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 3 Total |
| SQ Feet | 1,500 |
| Basement | Y |
| Story(s) | 2 |
Interior
| Cooling | Central air conditioning |
|---|---|
| Heating | Forced air, Natural gas |
| Fireplace Yes / No | No |
Exterior
| Foundation Details | Unknown |
|---|
Parking
| Parking Features | No Garage |
|---|---|
| Parking Total | 2 |
Utilities
| Sewer | Sanitary sewer |
|---|---|
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 3000 |
|---|---|
| Tax Year | 2026 |
Area Information
| Province | ON |
|---|---|
| City | Hamilton (Gibson) |
| Postal Code | L8L6M3 |
| Listing VS Median (in L8L6M3) | |
Price: $699,000 low | high Med: $699,000 sqft: 1,500 low | high Med: 1,500 $ / sqft: $466 low | high Med: $466 On site: 111 low | high Med: 111 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Hamilton (Gibson) |
| Postal Code | L8L6M3 |
| Listing VS Median (in L8L6M3) | |
Price: $699,000 low | high Med: $699,000 sqft: 1,500 low | high Med: 1,500 $ / sqft: $466 low | high Med: $466 On site: 111 low | high Med: 111 | |
