143 Sherman Avenue

Gibson, Hamilton, L8L 6M3
FOR SALE
$699,000
143 Sherman Avenue, Hamilton
143 Sherman Avenue
143 Sherman Avenue
143 Sherman Avenue
143 Sherman Avenue
143 Sherman Avenue
143 Sherman Avenue
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4
BEDROOMS
3
BATHROOMS
2
KITCHENS
5
ROOMS
X13530234
MLSID
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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.
Nearby Intersections
Property Features
None, Private Double
Property Details
Address
143 Sherman Avenue
Community
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
Listing contracted with Exp Realty
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