Property Description for 198 BERKO Avenue
LEGAL two family investment property on the highly sought after East Hamilton Mountain! Completely redone/built-out in 2023, 198 Berko Avenue offers a 3+2 bedroom suite mix (with 1 full bath per) generating $4665 in monthly gross rents with all utilities passed on to the AAA tenants! Furthermore, property features include large floor-plans (with enclosed porch), generous 44x114 lot, ample parking, separate hydro meters and operating at a true 5.5% cap rate. Yield calculation includes a 20% down payment, 30 year amortization, at a 4.5% interest rate with 8% in monthly contingencies (3% vacancy, 5% maintenance) while maintaining a few hundred dollars in positive cash-flow. A safe investment in a premier rental area across the street from green space with shopping and highway access nearby! Legal basement suite professionally converted by 555 Construction Management Inc & managed by local Property Management Company- Total Property Solutions. A very complete and sound investment opportunity. Rents well above market value due to management (id:38686)
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Property Details
Property Tax
: N/AMLS® #
: 40764502
Home Features
Property Type
: MultiFamilySquare Footage
: 1,850 SQFTSubdivision
: 183 - Lawfield
Interior Features
Heating
: ["Forced air", "Natural gas"]Basement
: ["Finished", "Full"]
Utilities
Sewer
: ["Municipal sewage system"]
Other
Exterior Features
: ["Brick", "Stone", "Brick Veneer"]
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