Prospect Street Fourplex
Yes, finding positive cashflow in Hamilton is still possible!
We are excited to announce that we’ve closed on a brand new property on Prospect Street South in Hamilton!
We bought this LEGAL TRIPLEX off-market through our professional network and we can’t wait to get started! Overall, the building is in great shape; in fact it’s been awhile since we’ve bought something that didn’t need a full overhaul!
Two of the four units were vacant on closing allowing us to start the demo immediately. These units already had great spacious layouts so we’re simply updating each with new kitchens, bathrooms, paint, flooring and lighting. Kaely has some great design features for the common spaces and a vision for the front facade to bring back the curb appeal.
Paving the rear yard for more parking and adding one extra meter will further the value here and we’re anticipating an increase of 32% in our first year alone.
But first….we tackle a bedbug issue! Unfortunately, this is all too common here in Hamilton and is not a big deal to eliminate if you act quickly. Feel free to follow along to see how we ensure these critters are a thing of the past. We are looking forward to sharing the ongoing progress with you!
Keep up with our latest updates and photos on our Instagram.