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Property Description
Incredible Investment Opportunity In Central Hamilton With A Turnkey Legal Non-Conforming Duplex Operating As A Triplex For Over 30 Years, Now With Potential To Add A Laneway Suite. Nestled On A Picturesque Tree-Lined Street Directly Across From St. Brigid School. Professionally Waterproofed, Upgraded Electrical, And All Units Have Been Tastefully Updated. Additionally, There?s A Detached Workshop With Electricity, Perfect For Hobbyists Or Additional Storage. Over 3,000 Sq Ft Of Living Space Across Three Units: An Approx 1,000 Sq Ft Main Floor 2 Bed Unit, An Approx 1,500 Sq Ft Upper 3 Bed Unit Including A Loft With, And A Cozy Approx 725 Sq Ft Lower 1 Bed Unit. Very Rare - Each Unit Has Its Own Laundry For Utmost Convenience. No Carpeting In Any Of The Units Ensures Ease Of Maintenance. High-Efficiency Forced Air Gas Furnace Installed In 2018, Two 100A Breaker Panels Updated In 2014. Parking Is Ample, With A Front 2 Car Driveway And Additional Space At The Rear. Main Floor Unit Currently Vacant, Offering Potential Rental Income Of $2,200/Month, Upper And Lower Units Are Tenant-Occupied, Bringing In $1,590/Month Plus Hydro And $922.50 /Month Inclusive, Respectively. Tenants Are Month To Month. Easy Access To Local Amenities, Schools, And Public Transportation. Please Note, The Seller Does Not Warrant The Retro-Fit Status Of The Property. Seize This Unique Opportunity To Own A Versatile Property With Excellent Income And The Chance To Further Develop, Or Purchase As A Mortgage Helper.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-04-08 | 2024-04-16 | 8 | $819,900 | - | Terminated |
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Property Details
Street
Community
City
Property Type
Triplex, 2 1/2 Storey
Approximate Sq.Ft.
2000-2500
Lot Size
24' x 123'
Acreage
< .50
Fronting
West
Taxes
$3,489 (2024)
Basement
Finished, Sep Entrance
Exterior
Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
None
Water
Municipal
Parking Spaces
2
Driveway
Pvt Double
Garage Type
None
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Hamilton Market Statistics
Hamilton Price Trend
51 Smith Ave is a 5-bedroom 3-bathroom home listed for sale at $799,900, which is $609,000 (43.2%) lower than the average sold price of $1,408,900 in the last 30 days (March 30 - April 28). During the last 30 days the average sold price for a 5 bedroom home in Hamilton increased by $336,345 (31.4%) compared to the previous 30 day period (February 29 - March 29) and up $307,866 (28.0%) from the same time one year ago.Inventory Change
There were 44 5-bedroom homes listed in Hamilton over the last 30 days (March 30 - April 28), which is up 46.7% compared with the previous 30 day period (February 29 - March 29) and up 214.3% compared with the same period last year.Sold Price Above/Below Asking ($)
5-bedroom homes in Hamilton typically sold ($70,505) (5.0%) below asking price over the last 30 days (March 30 - April 28), which represents a $22,081 decrease compared to the previous 30 day period (February 29 - March 29) and $4,182 less 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 5-bedroom homes in Hamilton over the last 30 days (March 30 - April 28) stood at 34.1%, down from 60.0% over the previous 30 days (February 29 - March 29) and down from 135.7% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 5-bedroom 3-bathroom home in Hamilton stood at 61 days when successfully sold over the last 30 days (March 30 - April 28), compared to 73 days before being removed from the market upon being suspended or terminated.Listing contracted with Rock Star Real Estate Inc.
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