$589,900

For sale

62 Erie Avenue, Hamilton (Stinson) - Multi-family for Sale

62 Erie Avenue, Hamilton (Stinson), Ontario, L8N2W6

5 beds2 baths1 parking1,750 ft²25 × 180 ft (4,500 sq ft) lot sizeListed 11 days ago

Overview

This multi-family property in Hamilton is for sale offering roughly 1,750 sq ft of space. It has been on the market 11 days, fresher than the Hamilton average of 94 days.

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Description

Live in this fantastic cash flowing property in amazing Stinson area! Recently updated, this legal duplex has a vacant upper unit with loft, turnkey and ready to move in with new kitchen and bathrooms and unique loft features. Carefully selected AAA tenants on main floor paying $1950. Live in this detached home with mortgage payments of approx. $700 monthly! So much potential with extra deep lot of 180 ft! Each unit has separate laundry and separate entry. One parking spot included with this home. No leased equipment. Upgraded kitchens, brand new stainless steel appliances. Wonderful opportunity for first time home buyers or investors to buy in downtown Hamilton's top neighborhood. Walking distance to grocery stores and amenities and minutes from upcoming Hamilton LRT. (id:66096)

Property Details

MLS®: X14113220
Property Type: Multi-family
Bedrooms: 5
Beds (above / below): 4 above · 1 below
Bathrooms: 2
Parking: 1
Interior Size: 1,750 ft²
Lot Size: 25 × 180 ft (4,500 sq ft)
Frontage: 25 ft
Storeys: 2
Basement: Separate entrance, N/A
Heating: Forced air, Natural gas
Cooling: None
Garage: No Garage
Property Tax: $4,349.21/yr
Listed: 11 days ago

Rooms

Ground level

Living room: 4.16 x 3.07 meters
Bedroom: 4.16 x 2.99 meters
Bedroom 2: 4.16 x 2.99 meters
Kitchen: 4.52 x 3.3 meters

Second level

Dining room: 3.04 x 2.99 meters
Den: 3.04 x 2.13 meters
Kitchen: 3.07 x 2.54 meters

Third level

Bedroom: 4.47 x 5.13 meters
Den: 4.16 x 5.13 meters

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

Features

Foundation: Block
Exterior: Brick

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

11d

Hamilton (Stinson) listings, avg age

94d

Price / ft²

$337

List price

$590K

Haho

This 5-bed multi-family in Hamilton (Stinson) has been listed for 11 days, which is 83 days fresher than the city average of 94. Act while there is still low competition.

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Listed by ROYAL LEPAGE REAL ESTATE SERVICES LTD. · NAUSHIN KEMP

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L8N)

This home lists at $589,900, about 10.8× the local median household income of $54,800.

Carrying it typically needs a household income of about $115,228 (20% down, 25-yr amortization, stress-tested) — roughly 110% above the area median.

Median household income: $54,800
Population: 15,568
Median age: 36.8
Owner / renter: 26% / 75%
Avg. household size: 1.9

Source: Statistics Canada, 2021 Census (FSA L8N)

$589,900· $337/ft²

For sale

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Full Cost Breakdown

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Down Payment5.76% · $33,990.00

Min 5.76%50%

Mortgage payment$3,082/mo

↳ CMHC premium ($22,236 capitalized)

Property tax (est.)$362/mo

Total monthly$3,444

Cash Needed to Close

Down payment (5.76%)$33,990

Land transfer tax$8,273

Est. closing costs$4,270

Total cash needed$46,533

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