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For Sale · Multifamily

38 INCHBURY STREET, Hamilton (Strathcona)

38 INCHBURY STREET, Hamilton (Strathcona), ON L8R3B3

$688,800 total

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Asset Class

Multifamily

Size

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Building class

B

Zoning

RA9 — High Rise

$ / SF

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Occupancy

86%

About this property

Beautifully renovated in 2023, this legal triplex offers an exceptional investment opportunity in Hamilton! This detached 2.5-storey property features three self-contained, above-grade one-bedroom apartments, each with its own separate hydro meter. An excellent opportunity for investors seeking multiple income streams or multigenerational living. Ideally located just steps to Victoria Park and minutes to the Harbour Waterfront Trail, Bayfront Park, Jackson Square Shopping Centre, The Centre on Barton, McMaster University and Mohawk College. Convenient access to West Harbour GO Station, public transit and Highway 403 for commuters travelling to Toronto. Three units, three separate hydro meters and endless investment potential! A rare opportunity to own a renovated legal triplex in a convenient Hamilton location! (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$689K
Down payment30% · $207K
Interest rate6.25%
Amortization25 years
Occupancy86%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$23K

Annual cash flow

$-15K

Cash-on-cash

-7.12%

DSCR

0.61

Going-in cap

3.41%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

117,478

Households

43,374

Median income

$109,500

Median age

33.8

Daytime population

114,748

5-yr growth

3.7%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 38 INCHBURY STREET, Hamilton (Strathcona).

NDA required

  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.