Kenilworth Avenue North, Hamilton, Ontario
Offer Date: FIRST COME FIRST SERVE
Closing Date: May 9th, 2025
*SELLER OPEN TO SHORTENING CLOSING UPON REQUEST*
** Realtors bring us a client and add your commission on top of the purchase price**
Property Details
- Detached 2 storey legal duplex
- One unit on main level
- One unit on second level
- Units have seperate entrances from ground level
- This property has been condemned by the fire dept, deemed unsafe due to electrical and issues with code (drywall not firerated and up to code)
- 4 bedrooms
- Upper unit: 2 beds
- Lower unit: 2 beds
- 2 bathrooms
- 2398 sqft above grade
- 1012 sqft below grade
- Basement is unfinished
- 5.5-6ft ceiling height
- Setup as a utility room
- Electrical panel type and wiring type unknown
- Built in 1948
- Furnace is owned
- Older unit exact age unknown
- HWT is owned
- Older unit exact age unknown
- A/C is owned
- Older unit exact age unknown
- Roof redone 2 years ago as per seller
- Windows are very outdated
- No garage
- No appliances included
- Lot size is 25 ft x 100 ft
- Property taxes are about $3,375
- C5a zoning
About the Neighbourhood
- Access to highways: Redhill Valley Parkway and QEW
- McMaster University (25 minutes) and Mohawk College (18 minutes) – potential for student rental
- Hamilton Go Centre (16 minutes)
Recommended Renovations
- Cosmetic renovation
- Consider updating windows, furnace, HWT, A/C
- Coordinate with fire department to determine necessary repairs to make the property habitable
- The seller has the option to leave junk behind so we would recommend budgeting for junk removal
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The Numbers
We are selling our assignable purchase contract for this excellent FIX and FLIP or Rental opportunity.
- Wholesale Price: $294,999 or Best Offer
- We believe that this property is worth $400,000 as-is on the MLS
- We believe that after the recommended renovations are completed, this property should be worth at least $590,000 on the MLS.
- Purchase today for $105K BELOW MARKET VALUE
Comparable Analysis
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- 162 Newlands Ave sold for $596,000 in December 2024. This comparable duplex has a 3+2-bedroom, 3-bathroom layout, with one less main bedroom, two additional basement bedrooms, and an extra bathroom. The comparable property has a smaller 700 – 1100 sqft footprint and sits on a similar sized 25 ft x 100 ft lot. The comparable is in great cosmetic shape, unlike the subject property. Unlike the subject property, the comparable has a parkable driveway in front. We believe that in its current condition, taking into account adjustments, the subject property would sell for a price of around $400k on the MLS!
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- 1125 Cannon Street East sold for $486,000 in January 2025. This detached 1.5-storey duplex property consists of 3 beds, 2 bathrooms and according to the listing is approximately 1500 – 2000 sqft above grade. The property sits on a similar lot (25ft x 100ft). Unlike the subject property, the comparable has a crawl space basement. Additionally the comparable lacks a 4th bedroom. Although the comparable is outdated and much smaller in size it is in much better condition than the subject property. We believe that in its current condition, taking into account adjustments, the subject property would sell for a price of around $400k on the MLS!
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- 26 Cambridge Avenue sold for $550,000 just 25 days ago.
This comparable detached property has a 3+1 bedroom, 3 bathroom layout, with one additional bathroom, an additional basement bedroom, as well as one less primary bedroom in comparison to the subject property. The comparable property has a considerably smaller footprint of 931 sqft of living space and sits on a similar 25 ft x 100 ft lot. The comparable has been fully renovated throughout however the second unit in the basement does not seem to be a legal unit. With the appropriate adjustments made, we believe that after the recommended renovations are completed, the subject property would sell for a price around $590,000 on the MLS!
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