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
15 Empress Ave
15 Empress Ave
15 Empress Ave
15 Empress Ave
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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15 Empress Ave
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15 Empress Ave
15 Empress Ave
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15 Empress Ave
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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
$7,074 (2023)
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 $160,583 (25.2%) higher than the average sold price of $638,417 in the last 30 days (October 21 - November 19). During the last 30 days the average sold price for a 2 bedroom home in Hamilton declined by $37,184 (5.5%) compared to the previous 30 day period (September 21 - October 20) and down $73,444 (10.3%) from the same time one year ago.
Inventory Change
There were 68 2-bedroom homes listed in Hamilton over the last 30 days (October 21 - November 19), which is down 12.8% compared with the previous 30 day period (September 21 - October 20) and down 2.9% compared with the same period last year.
Sold Price Above/Below Asking ($)
2-bedroom homes in Hamilton typically sold ($12,806) (2.0%) below asking price over the last 30 days (October 21 - November 19), which represents a $2,133 increase compared to the previous 30 day period (September 21 - October 20) and ($20,925) 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 (October 21 - November 19) stood at 98.5%, up from 57.7% over the previous 30 days (September 21 - October 20) and up from 50.0% 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 38 days when successfully sold over the last 30 days (October 21 - November 19), compared to 51 days before being removed from the market upon being suspended or terminated.
Listing contracted with Royal Lepage State Realty
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