29 Gertrude Street
Industrial Sector, Hamilton, L8L 4B7
FOR SALE
$445,000
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4
BEDROOMS 2
BATHROOMS 2
KITCHENS 10
ROOMS X13540144
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Property Description
29 Gertrude Street is an investment property within a portfolio. A legal duplex in Hamilton's lower city, offering current income with a clear value-add path. The property is currently generating a 5.44% cap rate with $26,918 in current NOI and 67% occupancy, with 2 of 3 doors currently occupied. One of the three units is month-to-month, creating an opportunity to reset rents to market on turnover and increase income. The property is configured with a 2-bedroom main-floor unit and a 3-room upstairs unit. Separate hydro metering is already in place, with tenants paying their own hydro, helping keep the owner's operating costs low and allowing added rent to flow more directly to NOI. The basement is currently unfinished and vacant, representing the immediate value-add opportunity. A future owner may be able to finish the basement and create a third rentable door, adding a new income stream on top of the in-place NOI without changing the building's footprint, subject to buyer due diligence and any required approvals. The upstairs unit is currently month-to-month and can be brought closer to market rent on turnover, while the vacant basement provides additional rental upside through build-out. With legal-duplex designation, separate hydro metering, current NOI, rent-reset potential, and a clear basement expansion opportunity, 29 Gertrude Street is well positioned for an investor seeking both immediate income and long-term appreciation in a tenant-dense Hamilton lower-city pocket.
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Property Features
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Property Details
Address
29 Gertrude Street
Community
City
Postal Code
L8L 4B7
Property Type
Duplex, Duplex
Lot Size
23' x 122'
Taxes
$2,267 (2025
Basement
Unfinished
Heat Type
Forced Air
Heat Source
Gas
Water
Municipal
Parking Spaces
2
Garage Type
None
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Listing contracted with Exp Realty
Welcome to this fully tenanted 2.5-storey semi-detached duplex in a convenient Hamilton location, offering excellent value at an accessible price point. With two self-contained units already in place, this property presents a strong opportunity for buyers looking to enter the investment market, offset future carrying costs, or secure a multi-unit property with built-in rental income. Unit 1 is located on the main floor, features 2 bedrooms, and is currently rented for $1,525 per month, with access from Burton Street as well as a convenient side entrance from the rear driveway. Unit 2 is accessed from Burton Street and spans the upper levels, offering its own laundry, second-floor living space, and a third-floor/attic area with 1 bedroom on the main upper level and 2 additional bedrooms above, currently rented for $1,799 per month. Together, the property generates a Net Operating Income of approximately $30,969 annually, making it a compelling option for buyers seeking affordability, income support, and long-term upside. The unfinished basement provides useful storage and future potential. Ideally located near Hamilton General Hospital, parks, the library, restaurants, transit, and everyday amenities, this property offers strong value in a central Hamilton neighbourhood.
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LEGAL DUPLEX!!! Attn: Renovators or Investors! This 2.5-storey all-brick legal duplex offers an excellent opportunity to renovate, add value, and maximize its income potential. The property is being sold AS IS, WHERE IS, with the Seller making no representations or warranties. Featuring separate entrances, a detached garage, and parking for up to 4 vehicles, this property offers the space and layout investors are looking for. The main floor features a living room, dining room, kitchen, 1 bedroom, and 4-piece bathroom. The second-floor unit offers 3 bedrooms, a living room, kitchen, and 2 bathrooms, with additional loft space on the upper level. Ideally located just a few blocks from Tim Hortons Field and Gage Park close to schools, public transit, and the Ottawa Street shopping district, perfect for investors looking to secure strong returns in a growing rental market. Priced to sell and offering plenty of potential for the right buyer - opportunities like this don't come around often!
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