$699,000 - 58 East Avenue, Hamilton
Multi-Family for Sale in Hamilton
99 days on market- MLS Number
- X12855076
- Property Type
- Multi-Family
- Status
- active
- Days on Site
- 99
- Bedrooms
- 5
- Bathrooms
- 6
- Square Feet
- 2,500 - 2,999 sqft
- Neighbourhood
- Hamilton
- Listing Brokerage
- ROYAL LEPAGE REAL ESTATE SERVICES LTD.
Welcome to this well-maintained triplex offering three self-contained units across three levels - an excellent opportunity for investors or owner-occupiers looking to offset their mortgage with rental income. The main floor unit, the largest of the three, is ideal for a large family or shared living arrangement. It features four generously sized bedrooms with office nooks, and four 3-piece bathrooms. The open-concept living room is filled with natural light and features a cozy fireplace, perfect for relaxing or entertaining. A spacious dining area with track lighting sits just off the well-equipped kitchen, complete with a fridge, stove, built-in dishwasher, ample white cabinetry, and open shelving. This unit also includes a dedicated office, in-suite laundry, and a private walk-out to a deck. The second floor 1Bdrm unit offers a charming and functional layout with a vaulted ceiling full of character, one bedroom, and a bright 4-piece bathroom featuring a tiled tub/shower surround and vanity with drawers. The kitchen includes a fridge, stove, washer, dryer, and plenty of cabinetry for additional storage. The basement Bachelor unit has been freshly finished and features an open-concept living space with pot lights and laminate flooring, a modern 3-piece bathroom with a tiled shower, and a well-appointed kitchen with a fridge, stove, over-the-range microwave, and ample cabinetry. All three units offer separate access, making this property a flexible and attractive option in today's market. Whether you're looking to live in one unit and rent the others, or add a strong income-producing property to your portfolio, this triplex delivers exceptional potential. Don't miss this rare opportunity!
Estimate your monthly payments for this property
Estimated Payment
$3,586.23/mo
Includes CMHC insurance ($19,502)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Hamilton
Hamilton is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Hamilton
- •Convenient location in Hamilton
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Hamilton offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
58 East Avenue, Hamilton
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Pricing
At $280/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Negotiation Opportunity
At 99 days on site, this property has exceeded the typical selling timeline for Hamilton. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Excellent Flexibility
With 5 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Hamilton.
Bathroom Count Matters
With 6 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
Investment Perspective
Looking at this as an investment: Hamilton properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,913 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.
Let's See It Together
Photos only tell part of the story. During our showing, I'll point out things the camera doesn't capture: neighbourhood feel, natural light quality, traffic noise, and overall condition. I'll also share what comparable homes have sold for and help you craft a winning strategy if you decide to move forward.