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$ 699,971
Est. payment /mo
Price Dropped by $25K
499 EAST 16TH Street Hamilton, ON L9A4K9
5 Beds
2 Baths
1,128 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1128
Square Footage 1,128 sqft
Price per Sqft $620
Subdivision 176 - Hill Park
MLS® Listing ID 40867445
Bedrooms 5
Year Built 1955
Lot Size 4,791 Sqft
Acres 0.11
Property Sub-Type Freehold
Property Description
Investors and owner-occupiers, take note! This fully legal duplex offers an incredible opportunity to build equity while generating rental income — whether you're looking to expand your portfolio or live in one unit and rent out the other for an additional source of income. This property features two updated, self-contained units: a spacious 3-bedroom main-floor unit and a well-appointed 2-bedroom basement unit. Both units feature stainless steel appliances and offer comfortable, modern living spaces that are attractive to today's tenants. With separate hydro meters, tenants can be responsible for their own electricity usage. The basement unit also offers the added bonus of no rent control, providing greater flexibility for future rental income. The property is being offered vacant, giving the new owner the flexibility to set their own rents from day one. For an owner-occupier, this creates an especially attractive opportunity: live in one unit while renting the other, generating rental income that can help offset your monthly mortgage payment and make home ownership more affordable. For investors, the property's layout provides the potential for healthy monthly cash flow, while its location helps attract a large and diverse tenant pool. Situated in a mature and established neighbourhood, this property is conveniently located close to Lime Ridge Mall, shopping, restaurants, schools, transit, everyday amenities, and major highways. With quick and easy highway access, getting around the city is a breeze — making this a highly convenient location for both homeowners and tenants. Whether you're looking to house-hack your way into home ownership, reduce your monthly carrying costs, or add a strong income-producing property to your portfolio, this fully legal duplex offers flexibility, rental income potential, updated units, and an incredible location all in one package. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters
Cooling Ductless
Exterior
Parking Features No
Community Features Community Centre, School Bus
View Y/N No
Attached Garage No
Total Parking Spaces 3
Garage No
Private Pool No
Building
Story 1
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by Keller Williams Complete Realty
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