1071 SOUTHCOTE Road, Hamilton, Ontario, L9G3L1

For saleJust listed

Today

$680K

1071 SOUTHCOTE Road, Hamilton, Ontario, L9G3L1

3 bd1 ba2 pk1,323 ft²

Listed by RE/MAX Escarpment Realty Inc.

80 MACLENNAN Avenue, Hamilton, Ontario, L8V1X6

For saleJust listed

Today

$950K

80 MACLENNAN Avenue, Hamilton, Ontario, L8V1X6

6 bd4 ba2 pk2,896 ft²

62 BARNESDALE Avenue South, Hamilton, Ontario, L8M2V4

4 bd3 ba4 pk2,096 ft²

Listed by Re/Max Escarpment Realty Inc.

136 WARREN Avenue, Hamilton, Ontario, L9A3E1

For saleJust listed

Yesterday

$849K

136 WARREN Avenue, Hamilton, Ontario, L9A3E1

5 bd2 ba5 pk1,900 ft²

Listed by RE/MAX Escarpment Realty Inc.

Investment analysis

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$824,850

Hamilton

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$824,850

For sale

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227 SHERMAN Avenue, Hamilton - Multi-family for Sale

227 SHERMAN Avenue, Hamilton, Ontario, L8M2R2

3 beds3 baths1,860 ft²3,485 sq ft lot sizeListed 163 days ago

Overview

This multi-family property in Hamilton is for sale offering roughly 1,860 sq ft of space.

Multi-Family Properties for Sale in Hamilton →All real estate in Hamilton →

Description

Welcome to 227 Sherman Avenue South! An excellent investment opportunity in the highly desirable St. Clair neighbourhood, this impressive 2.5-storey brick multi-residential home is surrounded by beautiful character properties and located just minutes from Gage Park, the Bernie Morelli Recreation Centre, schools, shopping, downtown access, and major highways. Set in a high-demand rental area, the property offers three above-grade one-bedroom units, with the main-level unit currently vacant…ideal for an owner-occupant looking to live in one unit while generating rental income from the other two. Investors will appreciate the strong rental potential, separate hydro meters, common laundry facilities in the basement, common front entry and foyer, steel fire escapes, durable steel roof, new owned hot water heater in 2025, and new boiler furnace in 2025. A fantastic opportunity to add a well-located income property to your portfolio or step into multi-residential ownership with built-in flexibility. (id:66096)

Property Details

MLS®: 40833032
Property Type: Multi-family
Zoning: D
Bedrooms: 3
Bathrooms: 3
Interior Size: 1,860 ft²
Lot Size: 3,485 sq ft
Frontage: 26 ft
Units: 3
Storeys: 2
Basement: Unfinished, Full
Heating: Radiant heat, Natural gas
Cooling: None
Garage: None
Ownership: Freehold
Property Tax: $3,964/yr
Listed: 163 days ago

Features

Exterior: Brick, Aluminum siding

Services

Sewer: Municipal sewage system

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

163d

Hamilton listings, avg age

65d

Price / ft²

$443

List price

$825K

Haho

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Listed by RE/MAX Escarpment Realty Inc. · Chris Medcalf

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L8M)

This home lists at $824,850, about 13.5× the local median household income of $61,200.

Carrying it typically needs a household income of about $161,122 (20% down, 25-yr amortization, stress-tested) — roughly 163% above the area median.

Median household income: $61,200
Population: 13,774
Median age: 38.4
Owner / renter: 40% / 60%
Avg. household size: 2.1

Source: Statistics Canada, 2021 Census (FSA L8M)

$824,850· $443/ft²

For sale

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Full Cost Breakdown

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Down Payment6.97% · $57,485

Min 6.97%50%

Mortgage payment$4,254/mo

↳ CMHC premium ($30,695 capitalized)

Property tax (est.)$330/mo

Total monthly$4,585

Cash Needed to Close

Down payment (6.97%)$57,485

Land transfer tax$12,972

Est. closing costs$4,975

Total cash needed$75,432

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