15 Empress Ave

FOR SALE
$799,000
15 Empress Ave, Hamilton
15 Empress Ave
15 Empress Ave
15 Empress Ave
15 Empress Ave
15 Empress Ave
15 Empress Ave
15 Empress Ave
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BEDROOMS
3
BATHROOMS
1
KITCHENS
14
ROOMS
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Property Description
This is a great opportunity to own a home that you can live in and either lease the main floor to a professional business while you enjoy 2 floors as your home, or use the main floor for your own business. This is a different kind of ownership that has more upfront cost, but the payoff could be huge in future by having a home and business in one building, or allowing a professional business tenant to help pay down the mortgage. This property has the best of both worlds being on the edge of commercial Upper James St and the edge of a great residential area with large Bruce Park just down the street. The down payment is higher at 35% - 50% and because it is mixed-use residential/commercial, HST is applied to the purchase price. These costs are the "cost of doing business" for this kind of investment home/business and ownership. Current owners ran a professional business in the home for over a decade, and, as such, the property has been well cared for. Previous ownership used the home as a live/work environment whereby the main floor was a doctor's office and the owner lived on the 2nd and lower level. Great location just off of Upper James St on Hamilton mountain, commercial zoning, could be live/work or a mixed commercial/residential, buy and hold opportunity for investors. New roof(shingles and plywood) November 2023. Freshly painted throughout. Updated 2nd floor bathroom August 2024 (tub added and sink replaced) and kitchen includes eat-at counter station, stove added, light fixture replaced, and new fridge August 2024.
Property Features
Library, Park, Public Transit
Property Details
Community
Property Type
Detached, 2-Storey
Approximate Sq.Ft.
1500-2000
Lot Size
41' x 116'
Acreage
< .50
Lot Irregularities
rectangular lot w/ jut out on west side
Fronting
North
Taxes
$7,522 (2024)
Basement
Finished, Full
Exterior
Brick
Heat Type
Radiant
Heat Source
Gas
Air Conditioning
Window Unit
Water
Municipal
Parking Spaces
6
Driveway
Available
Garage Type
None
Room Summary
RoomLevelSizeFeatures
Common RmMain9.91' x 20.87'Bay Window
OfficeMain6.50' x 11.25'W/I Closet, California Shutters
OfficeMain7.74' x 7.84'California Shutters
OfficeMain7.58' x 9.25'Side Door
OfficeMain7.09' x 10.76'Enamel Sink
BathroomMain6.50' x 7.51'2 Pc Bath
Kitchen2nd7.55' x 9.97'Eat-In Kitchen
Prim Bdrm2nd10.93' x 11.32'Balcony, W/I Closet, Sliding Doors
Br2nd10.07' x 11.09'
Bathroom2nd5.68' x 10.01'4 Pc Bath
RecBsmt10.83' x 16.80'Fireplace
BathroomBsmt4.00' x 7.41'3 Pc Bath
Hamilton Market Statistics
Hamilton Price Trend
15 Empress Ave is a 2-bedroom 3-bathroom home listed for sale at $799,000, which is $249,657 (45.4%) higher than the average sold price of $549,343 in the last 30 days (December 19 - January 17). During the last 30 days the average sold price for a 2 bedroom home in Hamilton declined by $219,767 (28.6%) compared to the previous 30 day period (November 19 - December 18) and down $65,942 (10.7%) from the same time one year ago.
Inventory Change
There were 41 2-bedroom homes listed in Hamilton over the last 30 days (December 19 - January 17), which is up 2.5% compared with the previous 30 day period (November 19 - December 18) and up 105.0% compared with the same period last year.
Sold Price Above/Below Asking ($)
2-bedroom homes in Hamilton typically sold ($11,292) (2.1%) below asking price over the last 30 days (December 19 - January 17), which represents a $2,515 decrease compared to the previous 30 day period (November 19 - December 18) and ($25,852) more than the same period last year.
Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 2-bedroom homes in Hamilton over the last 30 days (December 19 - January 17) stood at 104.9%, up from 92.5% over the previous 30 days (November 19 - December 18) and down from 105.0% one year ago.
Average Days on Market when Sold vs Delisted
An average time on the market for a 2-bedroom 3-bathroom home in Hamilton stood at 36 days when successfully sold over the last 30 days (December 19 - January 17), compared to 78 days before being removed from the market upon being suspended or terminated.
Listing contracted with Royal Lepage State Realty
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