29 GERTRUDE STREET, Hamilton (Industrial Sector)

$445,000

For sale: Multiplex

Multiplex at 29 GERTRUDE STREET, Hamilton (Industrial Sector)
Property type
Duplex
Bedrooms / bathrooms
4 bedrooms, 2 bathrooms
Living area
1,500 sqft
MLS®
MLS® X13540144
Neighbourhood
Industrial Sector

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.

Sold data

Homes in Industrial Sector — recent sold market

Homes in Industrial Sector took a median of 26 days to sell over the last 365 days, with the quickest quarter selling within 12 days and the slowest quarter taking more than 70, across 42 recorded sales.

That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 41 days.

The median sale price was $419,900.

Homes sold for about 2.8% below asking on average, so there was room to negotiate.

About 19% of sales closed above the list price.

Around 24% of sellers reduced their price before finding a buyer.

Median days to sell
26
Median sale price
$419,900
Sale-to-list ratio
97.2%
Sold above asking
19%

Based on 42 recorded sales in the last 1 year — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.

Schools

Schools in Hamilton (Industrial Sector)

Hamilton (Industrial Sector) has 130 Fraser Institute–rated schools (108 elementary and 22 secondary), averaging 5.6/10.

Rated schools
130
Elementary
108
Secondary
22
Average rating
5.6 / 10

Top-rated schools in Hamilton (Industrial Sector)

  • Corpus Christi — elementary, HamiltonFraser rating 10.0/10
  • Norwood Park — elementary, HamiltonFraser rating 8.4/10
  • Pope John Paul II — elementary, HamiltonFraser rating 8.0/10
  • Our Lady of Lourdes — elementary, HamiltonFraser rating 7.3/10
  • Westmount — secondary, HamiltonFraser rating 7.3/10
  • Sacred Heart — elementary, HamiltonFraser rating 7.2/10

School ratings from the Fraser Institute's Ontario school report cards.

Currently for sale

Homes for sale near 29 GERTRUDE STREET