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$589,000
Hamilton
70 Wellington Street South, Hamilton (Corktown), Ontario, L8N2R1
This 4-bedroom, 2-bathroom home in Hamilton is for sale offering roughly 1,750 sq ft of space. Listed at $589,000, it is attractively priced about 9% below the $649,000 median asking price in Hamilton. It has been on the market 22 days, fresher than the Hamilton average of 72 days.
An exceptional investment and development opportunity in the heart of Hamilton's desirable Corktown neighbourhood. Situated on an impressive 44 108 ft lot, this fully rented two-unit property offers immediate rental income together with exciting long-term potential.The property features two self-contained residential units, each offering two bedrooms and one bathroom. Both units are currently rented, providing investors with income from day one. The home offers spacious interiors, updated finishes, heating and air conditioning, and two on-site parking spaces.Ideally located minutes from downtown Hamilton, major transit routes, the Hamilton GO Centre, shopping, restaurants, parks and everyday amenities. Redevelopment plans are available for prospective buyers to review. The large lot may offer opportunities for future expansion or redevelopment, subject to municipal zoning, required approvals and the buyer's own due diligence.A rare opportunity to acquire a beautiful income-producing property with a generous lot in a high-demand central location-ideal for investors, developers or buyers looking for immediate income and excellent future potential. A minimum of 24 hours' notice is required for showings. (id:66096)
Features and services as supplied by the listing brokerage.
Extended: 22 days on market, against an average age of 72 days across the listings currently for sale in this city
This 4-bed single family in Hamilton (Corktown) has been listed for 22 days, which is 50 days fresher than the city average of 72. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $589,000, about 10.7× the local median household income of $54,800.
Carrying it typically needs a household income of about $115,052 (20% down, 25-yr amortization, stress-tested) — roughly 110% above the area median.
Source: Statistics Canada, 2021 Census (FSA L8N)
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Loading rates, 30-yr amortization
Cash Needed to Close
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