1024 King Street E

Introducing the fantastic opportunity of a Multi-Family Home for sale in Hamilton , located at 1024 King Street E, Hamilton. This solid and well-maintained multiplex building is an impressive 3-storey structure crafted from durable brick, offering a total of 28 rooms and an enticing investment prospect for those looking to expand their property portfolio. With a total of 13 bedrooms and 12 bathrooms, this property is perfectly designed to cater to a diverse range of tenants, ensuring strong year-round demand.

Situated in the vibrant Stipley community, this Multi-Family Home for sale in Hamilton is strategically positioned along one of the city's most active transit corridors. The location provides excellent access to local amenities, including shops, restaurants, parks, and essential services. The bustling atmosphere of the Gibson-Stipley neighbourhood adds to the appeal, making it an ideal spot for tenants seeking convenience and accessibility. The property is also close to major arterial routes that lead directly into the downtown core, further enhancing its desirability.

The layout of 1024 King Street E, Hamilton, features an attractive and balanced unit mix that includes three 2-bedroom units, seven 1-bedroom units, and two bachelor suites. This variety not only appeals to a wide range of tenants but also maximises rental income potential. Each unit is equipped with its own kitchen, with a total of 12 kitchens across the property, ensuring that residents enjoy the comfort and convenience of home cooking. While there is no additional kitchen or den, the well-thought-out design of the units allows for optimal living space.

The property is unfurnished, providing investors with the flexibility to tailor the living spaces to attract their ideal tenants. The heating is provided by a heat pump, ensuring a comfortable environment throughout the year, while wall unit air conditioning keeps the spaces cool during the warmer months. Although there is no central vacuum system, the finished basement offers additional storage and utility space, which can be a significant advantage for tenants.

Parking is made easy with space for up to five vehicles, accommodating the needs of residents without the hassle of street parking. However, it is worth noting that there is no garage or driveway, which may be a consideration for potential buyers. The lot measures an impressive 50 x 111 feet, providing ample outdoor space, although there is no pool or additional land included with the property.

The property is connected to municipal water and sewer systems, ensuring reliable services for all tenants. Internet access is available, which is an essential feature for modern living, particularly for those working from home or studying. While the absence of a family room and fireplace may be noted, the individual units are designed to offer comfort and functionality, making them appealing to a variety of renters.

With consistent rental performance and significant upside potential through gradual modernisation, this Multi-Family Home for sale in Hamilton is a turnkey asset that is perfectly suited for investors looking to grow or stabilise their multifamily portfolio. The evolving nature of the Gibson-Stipley neighbourhood means that this property is not just a sound investment but also a chance to be part of a community that is on the rise.

In summary, 1024 King Street E, Hamilton, represents an exceptional opportunity for those interested in a Multi-Family Home for sale in Hamilton. With its strategic location, diverse unit mix, and potential for growth, this property is a must-see for any serious investor. Don’t miss out on the chance to make this well-located, solid investment your own!

Stipley is a charming and vibrant neighbourhood located in the city of Hamilton, Ontario. Characterised by its tree-lined streets and a mix of residential homes, Stipley offers a welcoming atmosphere for families and individuals alike. The area boasts convenient access to local amenities, including parks, schools, and shops, making it an ideal place for those seeking a balanced lifestyle. With its rich history and a strong sense of local identity, Stipley provides a unique blend of urban convenience and suburban tranquillity, making it a delightful choice for anyone looking to settle in Hamilton.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. Within a short distance, you will find Prince of Wales Elementary School (0.3 km) and Bernie Custis Secondary School (0.2 km), both part of the Hamilton-Wentworth District School Board, offering English-language instruction. While Prince of Wales serves grades JK to 8 with a school rating of 2.2, Bernie Custis caters to grades 9 to 12 with a lower rating of 1.9. For additional options, St. Ann (Hamilton) CES, a Catholic elementary school, is just 0.7 km away and boasts a higher rating of 4.6. A.M. Cunningham Elementary (2.0 km) and W.H. Ballard Elementary (2.6 km) provide French-language education, with W.H. Ballard receiving a commendable rating of 3.5. On the secondary level, Sherwood Secondary School (2.6 km) has a solid rating of 6.9, while Cathedral CSS (1.3 km) offers Catholic education with a rating of 3.1. Overall, the area provides a diverse range of educational opportunities for children of all ages, enhancing the appeal of this property for potential buyers.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small community with a population of 733 residents and an average household size of 2.4 individuals. The average age of residents is 35 years, indicating a relatively young population. The average household income stands at $76,000, with 13.6% of the population classified as low-income. The real estate market reflects a median home price of $550,000, catering primarily to renters, who make up 65.45% of households. Notably, 53.72% of the population is single, while 28.95% of households include children, suggesting a mix of family structures. The area also has a significant educational presence, with 43.69% of residents holding a college or university degree. However, a considerable portion of the population, 39.81%, is not in the labor force, which may impact economic dynamics. Additionally, 13.01% of residents are immigrants, contributing to the area's diversity. Interestingly, there are no condominiums available in the area, indicating a potential gap in the housing market for this type of property. Overall, the demographic data paints a picture of a vibrant yet economically diverse community.