35 days on Market

15 Empress Ave, Hamilton, Ontario L9A 1M1

Detached
2
3
~1500-2000 sqft
$799,000
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Detached
2
3
~1500-2000 sqft

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Highlights

Estimated ValueNot available

Price/Sqft$466/sqft

Est. Mortgage$3,431/mo

Tax Amount (2024)$7,522/yr

Days On Market35 days


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 Details

Style2-Storey
View-
Age of property51-99
SqFt~1500-2000 SqFt
Lot Size4,774 SqFt(116.2 x 41.09)
Parking Spaces6
MLS ®NumberX10427667
Community NameCentremount
Data SourceTRREB
Listing byROYAL LEPAGE STATE REALTY

Features

Heating: Radiant
Cooling: Window Unit
Fireplace
Basement: Finished, Full

Bsmt Floor

Bathroom

2.26 x 1.22

3 Pc Bath

Rec

5.12 x 3.30

Fireplace


Features

Lot size: 4,774 SqFt

Parking

Garage spaces -

Garage type -

Total parking spaces 6


Property listed by ROYAL LEPAGE STATE REALTY, Brokerage

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Population and Demographics

Overview

Total population 1680
Average household income $104,972

Age (%)

20 to 34
25%
50 to 64
20%
35 to 49
20%
0 to 19
19%
65 and plus
16%

Household composition (%)

Single family
58%
Single person
36%
Multi person
6%
Multi family
0%

Mother tongue (%)

English
81%
Arabic
4%
Others
3%
Spanish
3%
Tagalog (Pilipino, Filipino)
2%
Italian
2%
French
1%
Punjabi (Panjabi)
1%

House tenancy (%)

Owners
60%
Renters
40%

Schools and amenities

Estimated Budget