$1,100,000

For sale

374 Highway 8, Hamilton (Stoney Creek), Ontario, L8G2E8

9 bd2 ba10 pk8,773 ft²

Listed by ROYAL LEPAGE MEADOWTOWNE REALTY

For sale

9 days ago

$2.29M

374 Highway 8, Hamilton (Stoney Creek), Ontario, L8G2E8

9 bd7 ba11 pk4,250 ft²Lot size 51 × 171 ft (8,750 sq ft)

Listed by ROYAL LEPAGE MEADOWTOWNE REALTY

Investment analysis

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$1,100,000

Hamilton

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Description

This exceptional duplex property offers a unique combination of immediate rental income and outstanding future development potential. Situated on an expansive oversized lot measuring approximately 87 ft x 150 ft, this property is truly a "diamond in the rough" for investors, builders, and families alike. Currently tenanted, the property generates strong cash flow, with opportunities to further enhance its income potential through strategic improvements. This multi family home with tremendous potential, requiring some TLC and creative remodeling ideas to unlock its full value. Prime Location: Ideally located in the heart of Stoney creek, a major intersection and surrounded by thriving commercial plazas, places of worship, schools, and essential community amenities. Development Potential: Positioned in a high-traffic, high-visibility area, this property presents numerous possibilities for future redevelopment or expansion, subject to applicable approvals. A must-see property with endless potential, waiting for your vision and creativity. Don't miss this rare opportunity to secure a valuable asset in one of Stoney Creek's most desirable and growing locations. (id:66096)

Property Details

MLS®: X13470126
Property Type: Multi-family
Bedrooms: 7
Beds (above / below): 5 above · 2 below
Bathrooms: 3
Parking: 6
Interior Size: 3,250 ft²
Lot Size: 87 × 150 ft (13,050 sq ft)
Frontage: 87 ft
Storeys: 2
Basement: Partially finished, Full
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Detached Garage, Garage
Fireplace: Yes
Property Tax: $6,326/yr
Listed: 137 days ago

Rooms

Main level

Living room: 5.98 x 3.88 meters
Dining room: 3.39 x 3.27 meters
Kitchen: 3.85 x 3.33 meters
Bathroom
Primary Bedroom: 4.74 x 3.88 meters
Bedroom 2: 3.8 x 3.88 meters
Bedroom 3: 3.34 x 2.63 meters

Second level

Bedroom 5: 3.34 x 3.34 meters
Kitchen: 5.33 x 2.89 meters
Living room: 4.27 x 3.88 meters
Bedroom 4: 4.8 x 4.13 meters

Basement

Recreational, Games room

Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.

Market Timing

Days on market

137d

Hamilton (Stoney Creek) listings, avg age

54d

Price / ft²

$338

List price

$1.10M

Area context

Neighbourhood profile (L8G)

This home lists at $1,100,000, about 14.3× the local median household income of $77,000.

Carrying it typically needs a household income of about $214,869 (20% down, 25-yr amortization, stress-tested) — roughly 179% above the area median.

Median household income: $77,000
Population: 21,805
Median age: 50.8
Owner / renter: 66% / 34%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA L8G)

$1,100,000· $338/ft²

For sale

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Full Cost Breakdown

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Down Payment7.73% · $85,000

Min 7.73%50%

Mortgage payment$5,627/mo

↳ CMHC premium ($40,600 capitalized)

Property tax (est.)$527/mo

Total monthly$6,155

Cash Needed to Close

Down payment (7.73%)$85,000

Land transfer tax$18,475

Est. closing costs$5,800

Total cash needed$109,275

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110 Gray Road, Hamilton (Stoney Creek) - Multi-family for Sale

Description

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