The trademarks MLS®, Multiple Listing Service®, and the associated logos are owned by the Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Listing data provided by the Toronto Regional Real Estate Board (TRREB). Data is deemed reliable but not guaranteed.
Perfect Live/Work Investment! Detached 2-storey mixed-use property located just steps from Hamilton General Hospital with less 500 meter and walking 8 minutes for sale with purchase closing of vacant, capitalizing on massive daily hospital foot traffic. Great location with high traffic, high exposure and on a rapidly revitalizing corridor in Hamilton downtown, also close to TD Coliseum, West Harbour Go Station and Bayfront Park. This brick building offers a commercial storefront downstairs and an apartment upstairs. A kitchen with a laundry and access to its apartments are located on the ground floor. They are attractive for owner-operators who want to live and work under one roof. Excellent and rare opportunity to acquire a small commercial space in the heart of Hamilton's prime medical-hub with the $1 billion+ HGH expansion & redevelopment, and the LRT B-Line corridor. Bonus upper level features a separate, self-contained residential unit ideal for live-work buyers or immediate rental income to maximize your yield. Separated entrances, electricity meters, breaker panels and bathrooms. Partial unfinished basement with trap door, storage and utility rooms. Small backyard, rear driveway of one spot. Front street parking available. Since April 2017, lots of upgrade done, including modifications to comply with By-Law requirements. Although not a high-end home renovation, while these are also conditions for moving in. *For Additional Property Details Click The Brochure Icon Below*
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What’s NearbyDistances approximate
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Estimated Rental Income
Rental estimate coming soon
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A monthly rent range from nearby leased homes of the same type and size
The leased comparables behind it (signed-in, VOW-gated)
Gross yield at the current list price
Monthly Cost
A quick estimate to plan with. Taxes come from the listing; change the other inputs to match your situation.
Estimated monthly$2,362/mo
Mortgage (principal + interest)$1,945
Property taxFrom listing: $5,002/yr$417
Minimum $26,990 down for this price; the slider moves in whole percent, starting at 6%. Under 20% adds mortgage default insurance. Confirm with a lender.
Mortgage uses Canadian semi-annual compounding. Houses-Gate doesn’t offer financing.
Estimated Budget
About how much cash you’ll need on closing day, besides the mortgage.
Down payment20% of the list price$103,980
Ontario land transfer taxProvincial brackets, no first-time refund$6,873
Legal fees & disbursementsTypical range $1,800–$2,800$1,800
Home inspectionTypical range $500–$800$600
Title insuranceTypical range $300–$600$400
Cash needed at closingEstimate$113,653
First-time buyers can get up to $4,000 back on Ontario land transfer tax. Hamilton has no municipal land transfer tax (Toronto does).
Uses Ontario’s land transfer tax brackets and the down payment set in Monthly Cost. Legal, inspection and title-insurance figures are typical ranges, not quotes.
Listing data is provided under copyright by the Toronto Regional Real Estate Board (TRREB). The data is deemed reliable but is not guaranteed to be accurate. The trademarks MLS®, Multiple Listing Service®, and the associated logos are owned by the Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose.
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor HousesGate shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
