198 Berko Avenue

Welcome to your next investment opportunity, a stunning Multi-Family Home for sale in Hamilton , located at 198 Berko Avenue, Hamilton. This legal two-family investment property is nestled in the highly sought-after area of East Hamilton Mountain, making it an attractive prospect for savvy investors. Completely redone and built out in 2023, this property offers a fantastic blend of modern living and potential income generation.

The layout of this Multi-Family Home for sale in Hamilton is truly impressive. It features a well-designed 3+2 bedroom suite mix, with each suite boasting its own full bathroom. This means that both sets of tenants can enjoy their own private space, which is a significant draw in the rental market. With the current configuration, the property generates an impressive monthly gross rent of £4,665, with all utilities passed on to the responsible tenants. This arrangement not only provides a steady income stream but also ensures that you, as the landlord, can enjoy peace of mind knowing that your investment is well managed.

Situated on a generous 44 x 115 feet lot, the property offers ample outdoor space, although there is no pool to maintain, which can be a relief for many. The exterior is a charming combination of brick and stone, giving it a classic appeal that is both durable and attractive. While there is no garage space, the property features a carport and ample parking for up to four vehicles, making it convenient for both residents and visitors.

The interior of this Multi-Family Home for sale in Hamilton is equally impressive. With a total of nine rooms, including a main kitchen and an additional kitchen, the layout is designed for functionality and comfort. The property is unfurnished, allowing new tenants to make it their own, and the central air conditioning ensures that everyone stays cool during the warmer months. Although there is no family room or fireplace, the spacious layout and the finished full basement provide plenty of room for relaxation and entertainment.

One of the standout features of this property is its location. 198 Berko Avenue, Hamilton, is situated across the street from green space, offering a lovely view and a great place for outdoor activities. Additionally, shopping and highway access are conveniently nearby, making it easy for tenants to enjoy all that Hamilton has to offer. The community of Lawfield is known for its family-friendly atmosphere, making this Multi-Family Home for sale in Hamilton an ideal choice for those looking to invest in a vibrant neighbourhood.

The property operates with separate hydro meters, which is a significant advantage for landlords, as it allows for clear billing and management of utilities. With a true cap rate of 5.5%, this investment is not only sound but also offers potential for growth. The yield calculation includes a 20% down payment, a 30-year amortisation, and a 4.5% interest rate, with 8% in monthly contingencies for vacancy and maintenance. This careful planning ensures that you maintain a few hundred pounds in positive cash flow, making it a safe investment in a premier rental area.

The legal basement suite has been professionally converted by 555 Construction Management Inc. and is managed by the local Property Management Company, Total Property Solutions. This level of professional oversight ensures that your investment is well taken care of, with rents consistently exceeding market value due to effective management.

In summary, 198 Berko Avenue, Hamilton, is a remarkable Multi-Family Home for sale in Hamilton that offers a complete and sound investment opportunity. With its modern updates, strategic location, and strong rental income potential, this property is not to be missed. Whether you're a seasoned investor or just starting, this property has everything you need to succeed in the rental market. Don't hesitate to explore this exceptional opportunity!

Lawfield is a charming residential area nestled within the vibrant city of Hamilton, offering a blend of suburban tranquillity and urban convenience. Characterised by its tree-lined streets and well-maintained parks, the neighbourhood provides a welcoming environment for families and individuals alike. With easy access to local amenities, including shops, schools, and recreational facilities, residents can enjoy a balanced lifestyle. The area is well-connected by public transport, making it simple to explore the wider Hamilton region. Lawfield’s sense of community is enhanced by its friendly atmosphere, making it an ideal place for those seeking a peaceful yet connected living experience.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an excellent choice for families. Just 0.3 km away, Lawfield Elementary School offers both English and French programs for students from Junior Kindergarten to Grade 8, boasting a solid school rating of 3.9. For secondary education, Sherwood Secondary School is situated 2.3 km from the property, providing English and French language options for Grades 9 to 12, with a commendable rating of 6.9. Additionally, St. Teresa of Calcutta Catholic Elementary School, located 1.2 km away, serves students in Grades JK to 8, although it currently has a school rating of 0. For families seeking a Catholic secondary education, St. Jean de Brebeuf Catholic Secondary School is approximately 2.1 km away, offering Grades 9 to 12 with a rating of 5. The proximity to these schools not only enhances the appeal of the property but also ensures that educational needs are easily met, catering to a variety of preferences and requirements for both public and Catholic education.

Key Statistics of the Neighbourhood

The area surrounding the property boasts a small population of 636 residents, with an average household size of three individuals. The community is relatively young, with an average age of 38.9 years. The average household income is notably high at $117,000, and only 3.4% of the population is classified as low-income, indicating a prosperous demographic. The real estate market reflects this affluence, with average home prices around $616,000. A significant portion of the population, approximately 40.78%, is single, while families with children make up 52.94% of households, showcasing a balanced community structure. Immigrants represent 20.31% of the population, contributing to the area's diversity. Additionally, only 5.13% of residents are renters, and there are no condominiums available, suggesting a preference for homeownership. Education levels are high, with 51.61% of the population holding a college or university degree. However, it is noteworthy that 35.48% of the residents are not in the labor force, which may indicate a mix of retirees or individuals engaged in other pursuits. Overall, this area presents a vibrant and well-educated community with strong economic indicators.