378-382 Cannon Street Unit# 378, Hamilton (Landsdale), Ontario L8L2C4 is For Sale and has a listing price of 925,000. The property is located in the Landsdale neighbourhood. It's been on the website for 23 Days.
Both 378 and 382 Cannon are being sold together, offering the unique advantage of acquiring two properties for the price of one, as they are currently merged and operating as two duplexes. This investment opportunity provides robust cash flow and has the potential for significant profit. Currently generating a net income of $73,862.91 after expenses, the properties cash flow almost $20,000 a year at a 5.5% interest rate. 378 Cannon features a 3-bedroom unit renting for $1,942/month (inclusive of heat & hydro) and a bachelor unit for $948/month (also inclusive). Meanwhile, 382 Cannon includes a 3-bedroom unit at $2,250/month (plus heat & hydro) and a 2-bedroom unit for $2,000/month (plus heat & hydro). Renovated in 2019, these properties minimize immediate maintenance costs. If severed and sold as two individual properties, there is significant potential to increase their value, making this a compelling investment opportunity. Buyers to verify all expenses, incomes, and zoning verifications. (id:43137)
| List Date | MLS ID | List Price | Status | End Date | Closed Price |
|---|---|---|---|---|---|
| 10/21/2024 | X9419956 | $925,000 | For Sale | - | - |
