29 Gertrude Street, Hamilton, ON L8L 4B7

About this property

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.

Property facts & features

Property type

Duplex

MLS® number

X13540144

Source status

Price Change

Bedrooms

4

Bathrooms

2

Reported interior area

Not provided

Neighbourhood

Not provided

Postal code

L8L 4B7

Parking spaces

2

Garage

None

Lot depth (source units)

122

Annual property tax

2267

Basement

Unfinished

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

Floor plans and verified room measurements are not available for this property.

Property value & listing history

Multi-event history, valuations and sold comparables require verified property identity and display permissions. No historical events or estimated values have been inferred.

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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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