43 Crooks St
Strathcona, Hamilton, L8R 2Z7
FOR SALE
$1,175,000
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3 + 2
BEDROOMS3
BATHROOMS2 + 1
KITCHENS7 + 3
ROOMSX9038471
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Property Description
Seize this extremely rare opportunity to own a turn-key rental property just a short walk from the GO Station and Bayfront Park. This beautifully renovated triplex boasts three self-contained units, each with dedicated entrances and separate laundry facilities. With a robust 200 amp service, the property promises reliability and efficiency. Currently fully tenanted with A++ tenants, the units generate impressive monthly rental incomes: Unit 1: $2,500 Unit 2: $1,640 Unit 3: $1,750. With a net annual income of $57,622 and an impressive cap rate of 4.90%, this property not only offers excellent cash flow but also peace of mind with quality tenants in place. Dont miss out on this exceptional investment opportunity!
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-01-04 | 2024-02-08 | 36 | $1,750 | $1,750 | Leased |
Property Features
Fenced Yard, Library, Marina, Park, Public Transit, School
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Property Details
Street
Community
City
Property Type
Multiplex, 2-Storey
Approximate Sq.Ft.
2000-2500
Lot Size
50' x 109'
Acreage
< .50
Fronting
West
Taxes
$5,012 (2023)
Basement
Finished, Sep Entrance
Exterior
Alum Siding, Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
8
Driveway
Pvt Double
Garage Type
Detached
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Kitchen | Main | 14.07' x 9.74' | |
| Family | Main | 14.50' x 13.16' | |
| Prim Bdrm | Main | 9.42' x 14.07' | |
| 2nd Br | Main | 14.76' x 12.01' | |
| Bathroom | Main | 9.74' x 6.17' | 3 Pc Bath |
| Kitchen | 2nd | 8.23' x 9.91' | |
| 3rd Br | 2nd | 10.99' x 16.34' | |
| Bathroom | 2nd | 5.58' x 9.91' | 4 Pc Bath |
| Kitchen | Bsmt | 15.91' x 8.83' | |
| 4th Br | Bsmt | 14.76' x 8.76' | |
| 5th Br | Bsmt | 19.59' x 7.35' | |
| Bathroom | Bsmt | 11.58' x 4.92' | 4 Pc Bath |
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Hamilton Market Statistics
Hamilton Price Trend
43 Crooks St is a 3-bedroom 3-bathroom home listed for sale at $1,175,000, which is $389,836 (49.7%) higher than the average sold price of $785,164 in the last 30 days (October 15 - November 13). During the last 30 days the average sold price for a 3 bedroom home in Hamilton declined by $68,955 (8.1%) compared to the previous 30 day period (September 15 - October 14) and up $25,191 (3.3%) from the same time one year ago.Inventory Change
There were 283 3-bedroom homes listed in Hamilton over the last 30 days (October 15 - November 13), which is down 10.4% compared with the previous 30 day period (September 15 - October 14) and up 3.3% compared with the same period last year.Sold Price Above/Below Asking ($)
3-bedroom homes in Hamilton typically sold ($19,617) (2.5%) below asking price over the last 30 days (October 15 - November 13), which represents a $5,815 decrease compared to the previous 30 day period (September 15 - October 14) and ($21,493) more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 3-bedroom homes in Hamilton over the last 30 days (October 15 - November 13) stood at 73.5%, up from 57.3% over the previous 30 days (September 15 - October 14) and up from 49.6% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 3-bedroom 3-bathroom home in Hamilton stood at 37 days when successfully sold over the last 30 days (October 15 - November 13), compared to 59 days before being removed from the market upon being suspended or terminated.Listing contracted with Re/Max Aboutowne Realty Corp.
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Exceptional Investment Opportunity! Discover this legal triplex, complete with a bonus additional dwelling unit, located on a spacious double lot. With approximately 3,000 square feet of well maintained living space, this property is a true gem for investors. The layout features two 2-bedroom units and two 1-bedroom units, offering versatile rental options. The main-floor 2-bed unit is currently owner occupied and provides a wonderful live-in option or could be quickly rented with a projected rent of $2,200/m. The other 3 units are happily occupied by A++ tenants. The home is equipped with efficient boiler heat, ensuring convenience for both owners and tenants. Additionally, this property includes in-suite coin operated shared laundry, and a detached garage and a storage shed, providing further potential for income (approx. $50/m for laundry and projected $200/m for garage) or personal use. The ideal location, turn key building, and practical layout make this a standout investment opportunity. You'll be hard pressed to find a better layout, location, and overall quality. Pride of ownership is evident throughout don't miss this rare offering. Call your Realtor to book your showing today!
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