$899,900

$925,000For salePrice drop↓ $25,100 (3%)

75-77 Sherman Avenue South, Hamilton (Gibson) - Multi-family for Sale

75-77 Sherman Avenue South, Hamilton (Gibson), Ontario, L8M2P8

8 beds4 baths5 parking4,250 ft²52 × 110 ft (5,720 sq ft) lot sizeListed 44 days ago

Overview

This multi-family property in Hamilton is for sale offering roughly 4,250 sq ft of space. It has been on the market 44 days, fresher than the Hamilton average of 87 days.

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Description

Legal triplex plus lower-level in-law suite in one of Hamilton's original majestic homes, beautifully preserved on a premium 52 x 110 ft lot - approx. 4,000 sq ft with five total income streams, all spacious 2-bedroom units, refinished hardwood, restored oak trim, ornate fireplaces and beveled leaded glass throughout. The main-floor unit will be vacant on closing - move in and live nearly carrying-cost-free while the two already-rented upper units and the self-contained in-law suite cover the mortgage, or place your own tenant at full market rent from day one. Major systems are done: Weil-McLain boiler, fire retrofit, full basement waterproofing, and independent basement heating. Detached double garage, driveway parking, and premium character details that simply can't be replicated today. Full financials available by request. (id:66096)

Property Details

MLS®: X13809138
Property Type: Multi-family
Bedrooms: 8
Beds (above / below): 6 above · 2 below
Bathrooms: 4
Parking: 5
Interior Size: 4,250 ft²
Lot Size: 52 × 110 ft (5,720 sq ft)
Frontage: 52 ft
Storeys: 2
Basement: Finished, Full, Apartment in basement, Separate entrance, N/A, N/A, N/A
Heating: Radiant heat, Forced air, Natural gas
Cooling: None
Garage: Detached Garage, Garage
Fireplace: Yes
Property Tax: $6,093.34/yr
Listed: 44 days ago

Features

Foundation: Stone
Exterior: Wood
Lot Features: In-Law Suite

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

44d

Hamilton (Gibson) listings, avg age

87d

Price / ft²

$212

List price

$900K

Haho

This 8-bed multi-family in Hamilton (Gibson) has been listed for 44 days, which is 43 days fresher than the city average of 87. Act while there is still low competition.

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Listed by ROCK STAR REAL ESTATE INC. · PAUL D'ABRUZZO

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L8M)

This home lists at $899,900, about 14.7× the local median household income of $61,200.

Carrying it typically needs a household income of about $175,782 (20% down, 25-yr amortization, stress-tested) — roughly 187% 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)

$899,900· $212/ft²

For sale

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Full Cost Breakdown

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Down Payment7.22% · $64,990

Min 7.22%50%

Mortgage payment$4,629/mo

↳ CMHC premium ($33,396 capitalized)

Property tax (est.)$508/mo

Total monthly$5,137

Cash Needed to Close

Down payment (7.22%)$64,990

Land transfer tax$14,473

Est. closing costs$5,200

Total cash needed$84,663

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