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BEDROOMS 3
BATHROOMS 2
KITCHENS 5
ROOMS X13530234
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Property 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.
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Nearby Intersections
Property Features
None, Private Double
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Property Details
Address
143 Sherman Avenue
Community
City
Postal Code
L8L 6M3
Property Type
Duplex, Duplex
Lot Size
29' x 90'
Taxes
$3,000 (2025
Basement
Other
Heat Type
Forced Air
Heat Source
Gas
Water
Municipal
Parking Spaces
2
Garage Type
None
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Listing contracted with Exp Realty
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