29 Gertrude Street,Hamilton, ON L8L 4B7
Hamilton, ON L8L 4B7
Description
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.
Details
| MLS # | X13540144 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Price Change |
| Year | 0 |
| Days On Site | 63 |
| Listing Provided By | EXP REALTY | X13540144 285400 |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 2 |
| Basement | Y |
| Story(s) | 2 |
| Acreage | 0.06 |
Interior
| Interior Features | None |
|---|---|
| Cooling | Central Air |
| Heat Source | Gas |
| Fireplace Yes / No | No |
Exterior
| Roof | Asphalt Shingle |
|---|---|
| Foundation Details | Unknown |
| Construction Materials | Brick Front |
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Sewer |
|---|
Taxes
| Tax Annual Amount | 2267 |
|---|---|
| Tax Legal Description | PT LOT 42 PLAN 481 HAMILTON AS IN NS251053 ; HAMILTON |
| Tax Year | 2025 |
Area Information
| Province | ON |
|---|---|
| Region | Hamilton |
| City | Hamilton |
| Postal Code | L8L 4B7 |
| Area | Industrial Sector |
| Listing VS Median (in L8L 4B7) | |
Price: $445,000 low | high Med: $0 On site: 63 low | high Med: | |
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Learn More About This Property
| Province | ON |
|---|---|
| Region | Hamilton |
| City | Hamilton |
| Postal Code | L8L 4B7 |
| Area | Industrial Sector |
| Listing VS Median (in L8L 4B7) | |
Price: $445,000 low | high Med: $0 On site: 63 low | high Med: | |
