$1,250,000

For sale

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55 Barton Street West, Hamilton (Central) - Multi-family for Sale

55 Barton Street West, Hamilton (Central), Ontario, L8L1A3

10 beds5 baths10 parking ft²

38 Hess Street South, Hamilton (Central), Ontario, L8P3N1

3,001 ft²

Listed by RE/MAX ESCARPMENT REALTY INC.

Investment analysis

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$1,250,000

Hamilton

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Overview

This multi-family property in Hamilton is for sale offering roughly 4,250 sq ft of space. It has been on the market 64 days, fresher than the Hamilton average of 71 days.

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

Description

Well-maintained five-unit multifamily property located in Hamilton's West Harbour. 55 Barton Street W features five two-bedroom units with updated kitchens, bathrooms, flooring and windows, separate hydro meters, coin-operated laundry and approximately 10 on-site parking spaces. Existing rents provide rental upside, while additional lower-level storage space and attic space with ceiling heights exceeding 10 feet offer further value-add potential, subject to municipal approvals. The property is within walking distance of James Street North, West Harbour GO, Pier 4 and Hamilton's waterfront, with significant redevelopment underway throughout the surrounding West Harbour area. (id:66096)

Property Details

MLS®: X13731626
Property Type: Multi-family
Zoning: D
Bedrooms: 10
Beds (above / below): 10 above · 0 below
Bathrooms: 5
Parking: 10
Interior Size: 4,250 ft²
Lot Size: 54 × 122 ft (6,511 sq ft)
Frontage: 54 ft
Storeys: 2
Basement: Partially finished, Full
Heating: Radiant heat, Natural gas
Cooling: None
Garage: No Garage
Property Tax: $11,056.38/yr
Listed: 64 days ago

Area context

Neighbourhood profile (L8L)

This home lists at $1,250,000, about 19.2× the local median household income of $65,000.

Carrying it typically needs a household income of about $244,169 (20% down, 25-yr amortization, stress-tested) — roughly 276% above the area median.

Median household income: $65,000
Population: 32,312
Median age: 36.4
Owner / renter: 52% / 48%
Avg. household size: 2.4

Source: Statistics Canada, 2021 Census (FSA L8L)

$1,250,000· $294/ft²

For sale

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Full Cost Breakdown

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Down Payment8% · $100,000

Min 8%50%

Mortgage payment$6,376/mo

↳ CMHC premium ($46,000 capitalized)

Property tax (est.)$921/mo

Total monthly$7,297

Cash Needed to Close

Down payment (8%)$100,000

Land transfer tax$21,475

Est. closing costs$6,250

Total cash needed$127,725

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55 Barton Street West, Hamilton (Central) - Multi-family for Sale

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