UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-6-9 Unit
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 7,503 sqft
Price per Sqft $346
MLS Listing ID 40823176
Bedrooms 14
Abv Grd Liv Area 7,503
Year Built 1960
Annual Tax Amount $21,694
Property Sub-Type Multi-6-9 Unit
Source Cornerstone
Property Description
The building features a strong and desirable unit mix including six 2-bedroom units, two 1-bedroom units, and one bachelor suite—appealing to a broad tenant demographic. Nine surface parking spaces provide added convenience and value for residents. With separate hydro meters, operational efficiency is enhanced while keeping expenses predictable.
Pride of ownership is evident throughout, with a solid maintenance history including a boiler replacement (2011) and a brand new roof (2025). Terrazzo flooring in the stairwells adds a durable, classic touch to the common areas. The property benefits from low vacancy and steady performance, generating a net income of $126,077.08 and a 4.85% cap rate.
This is an excellent opportunity for investors seeking a well-located, income-producing asset in a high-demand rental market. Proforma available upon request.
Location
Province ON
County Hamilton
Area 25 - Hamilton Mountain
Zoning E
Direction UPPER OTTAWA ST TO EAST ON FENNEL AVE E
Rooms
Basement Full, Finished
Kitchen 0
Interior
Interior Features Separate Hydro Meters
Heating Baseboard
Cooling None
Fireplace No
Appliance Dryer, Refrigerator, Stove, Washer
Laundry Coin Operated, Shared
Exterior
Exterior Feature Private Entrance
Parking Features Asphalt
Roof Type Flat
Lot Frontage 50.0
Lot Depth 150.0
Garage No
Building
Lot Description Park, Public Transit, Shopping Nearby
Faces UPPER OTTAWA ST TO EAST ON FENNEL AVE E
Story 3
Sewer Sewer (Municipal)
Water Municipal
Level or Stories 3
Structure Type Brick,Stone,Other
New Construction No
Others
Senior Community false
Tax ID 169970187
Ownership Freehold/None
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