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6 + 2
BEDROOMS3
BATHROOMS3 + 1
KITCHENS18 + 7
ROOMSX10409778
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Property Description
Amazing multi family property in downtown Hamilton that will be vacant on closing, steps to the core and surrounded by new development projects. This Victorian Mansion still keeps its charm and character while being a great investment for your portfolio. All units have separate hydro meters and there is shared coin-op laundry in the basement. Main floor is a very large one bedroom that is currently being used as 2 bedrooms. The 2nd floor is a spacious 3 bedroom unit with a living room.3rd floor is a well-maintained 2 bedroom unit. Basement is a great size 2 bedroom unit. This gives the new buyer a chance to add value to the building and pick their own tenants. Great location for tenants with Go Train station a short walk, St Joe's hospital not far away, and James St S & Augusta with all the newest best restaurants in town. Properties like this don't come to the market often.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-06-19 | 2024-10-28 | 131 | $1,349,999 | - | Terminated |
| 2020-03-24 | 2020-07-08 | 106 | $1,099,000 | $1,069,000 | Sold |
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Property Details
Street
Community
City
Property Type
Fourplex, 2 1/2 Storey
Approximate Sq.Ft.
3000-3500
Lot Size
40' x 75'
Acreage
< .50
Fronting
South
Taxes
$8,204 (2023)
Basement
Full, Sep Entrance
Exterior
Brick
Heat Type
Radiant
Heat Source
Gas
Air Conditioning
Window Unit
Water
Municipal
Parking Spaces
2
Driveway
Front Yard
Garage Type
None
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Hamilton Market Statistics
Hamilton Price Trend
171 Bay St S is a 6-bedroom 3-bathroom home listed for sale at $999,999, which is $19,999 (2.0%) higher than the average sold price of $980,000 in the last 30 days (October 21 - November 19). During the last 30 days the average sold price for a 6 bedroom home in Hamilton declined by $391,000 (28.5%) compared to the previous 30 day period (September 21 - October 20) and down $399,500 (29.0%) from the same time one year ago.Inventory Change
There were 6 6-bedroom homes listed in Hamilton over the last 30 days (October 21 - November 19), which is down 25.0% compared with the previous 30 day period (September 21 - October 20) and down 14.3% compared with the same period last year.Sold Price Above/Below Asking ($)
6-bedroom homes in Hamilton typically sold ($10,900) (1.1%) below asking price over the last 30 days (October 21 - November 19), which represents a $32,766 increase compared to the previous 30 day period (September 21 - October 20) and ($19,673) 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 6-bedroom homes in Hamilton over the last 30 days (October 21 - November 19) stood at 16.7%, down from 37.5% over the previous 30 days (September 21 - October 20) and down from 114.3% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 6-bedroom 3-bathroom home in Hamilton stood at 30 days when successfully sold over the last 30 days (October 21 - November 19), compared to 69 days before being removed from the market upon being suspended or terminated.Listing contracted with Royal Lepage Burloak Real Estate Services
Similar Listings
This fourplex is a fantastic addition to your investment portfolio, situated in one of Hamiltons desirable neighborhoods. Offering excellent cash flow, the property features four renovated units: Unit 1 Basement 1bed/1bath, Unit 2 Main Floor - 1bed/1 bath, Unit 3 Second Floor - 2bed/1bath, Unit 4 Loft - 1bed/1bath (vacant possession Dec 1, 2024). Units renovated in 2020 new kitchens, bathrooms, flooring and appliances. Electrical (2020), Plumbing (2020), Fire Escape (2020). Onsite shared coin-operated laundry, generating extra monthly income and onsite parking with detached garage. This could be your next turnkey investment oppourtunity!!
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Rare opportunity to own a 4-plex investment opportunity, great downtown location full of nearby amenities. Three one bedrooms and one two bedroom. It offers Terrazzo floors in the hallways and carpet on the stairs. Units are separately metered for hydro. Locker room and parking available. All units are updated and furnished to standard. Fire alarm and fire extinguisher in each floor hallways. Ideal for the starting Investor!!! Outstanding 4 plex . Nothing to do but collect rent, gross income of $84000 per year. Very secure building close to Jackson Square, walking distance to all amenities.
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