$689,900

For saleJust listed

62 BARNESDALE Avenue South, Hamilton - Multi-family for Sale

62 BARNESDALE Avenue South, Hamilton, Ontario, L8M2V4

4 beds3 baths4 parking2,096 ft²Listed Today

Overview

This multi-family property in Hamilton is for sale offering roughly 2,096 sq ft of space. It has been on the market 0 days, fresher than the Hamilton average of 65 days.

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Description

Welcome to 62 Barnesdale Ave S, a legal non-conforming triplex in Hamilton’s sought-after Stipley South neighbourhood. With two of three units vacant, investors can set market rents from day one, or owner-occupiers can live in one unit and let the others help pay the mortgage. Projected gross rent of $62,000+ per year, with Unit 3 tenanted. Major updates are done: new roof and windows (2024), updated electrical and plumbing (2015), units renovated in 2017, and a new flat roof over the fire escape (2023). Features include 3 bathrooms, forced-air heating with central A/C, shared laundry, parking for 4 cars, and a full backyard. Close to transit, Gage Park, Ottawa Street, and everyday amenities. A turnkey opportunity for investors and first-time buyers alike. (id:66096)

Property Details

MLS®: 40875868
Property Type: Multi-family
Zoning: C
Bedrooms: 4
Bathrooms: 3
Parking: 4
Interior Size: 2,096 ft²
Frontage: 30 ft
Units: 3
Storeys: 2
Basement: Unfinished, Full
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Ownership: Freehold
Property Tax: $4,571/yr
Listed: Today

Features

Foundation: Stone
Exterior: Brick Veneer

Services

Water: Municipal water
Sewer: Municipal sewage system

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

Hamilton listings, avg age

65d

Price / ft²

$329

List price

$690K

Haho

This 4-bed multi-family in Hamilton has been listed for 0 days, which is 65 days fresher than the city average of 65. Act while there is still low competition.

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Listed by Re/Max Escarpment Realty Inc. · Callum Thomas

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L8M)

This home lists at $689,900, about 11.3× the local median household income of $61,200.

Carrying it typically needs a household income of about $134,762 (20% down, 25-yr amortization, stress-tested) — roughly 120% 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)

$689,900· $329/ft²

For sale

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Full Cost Breakdown

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Current Rates

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Down Payment6.38% · $43,990

Min 6.38%50%

Mortgage payment$3,581/mo

↳ CMHC premium ($25,836 capitalized)

Property tax (est.)$381/mo

Total monthly$3,962

Cash Needed to Close

Down payment (6.38%)$43,990

Land transfer tax$10,273

Est. closing costs$4,570

Total cash needed$58,833

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