143 Sherman Avenue N, Hamilton, ON L8L 6M3

About this property

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.

Property facts & features

Property type

Duplex

MLS® number

X13530234

Source status

Price Change

Bedrooms

4

Bathrooms

3

Reported interior area

Not provided

Neighbourhood

Not provided

Postal code

L8L 6M3

Parking spaces

2

Garage

None

Lot depth (source units)

90

Annual property tax

3000

Basement

Other

Laundry

Not provided

Interior features

None

Exterior features

Not provided

Values and units are reported by the listing source. Verify measurements and fees with the brokerage.

Floor plans & room measurements

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Property value & listing history

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Planning estimate with Canadian semiannual compounding. Excludes mortgage insurance, closing costs and special assessments. This is not a lender quote or mortgage approval.

Location & neighbourhood

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