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$599,900
Hamilton
63 Melrose Avenue South, Hamilton (Stipley), Ontario, L8M2Y4
This multi-family property in Hamilton is for sale offering roughly 2,750 sq ft of space.
An exceptional opportunity in the heart of the Gibson-Stipley neighbourhood! This large, updated and Vacant 2 unit property offers incredible flexibility for investors and owner-occupiers alike. With two spacious, move-in-ready units, the property is ready for a new owner to select their own tenants and establish current market rents from day one. Live in one unit while generating income from the other to help offset your mortgage, or add this turnkey property to your investment portfolio and maximize its rental potential. Looking for even more upside? The property also offers potential to create a third unit with separate side entrance, providing an exciting opportunity to further increase revenue and long-term value. Ideally situated in an established central Hamilton neighbourhood close to transit, schools, shopping, amenities and downtown.A rare opportunity to acquire a vacant, updated multi-unit property with strong income potential and multiple options for the future! (id:66096)
Features and services as supplied by the listing brokerage.
Long Listed: 55 days on market, against an average age of 47 days across the listings currently for sale in this city
This 6-bed multi-family in Hamilton (Stipley) is available now. Want me to connect you with the agent or keep you posted on any price updates?
Approximate location — exact address confirmed upon showing
This home lists at $599,900, about 9.8× the local median household income of $61,200.
Carrying it typically needs a household income of about $117,181 (20% down, 25-yr amortization, stress-tested) — roughly 91% above the area median.
Source: Statistics Canada, 2021 Census (FSA L8M)
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Loading rates, 30-yr amortization
Cash Needed to Close
Rates via our partner mortgage brokers at iShopRates · Estimates only, not financial advice
Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.