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$749,900 Sale
Listed 18 hours ago
15 Empress Avenue
· 2
· 2.50
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· 1623
Key Facts
Key facts for 15 Empress Avenue
Property Type
House, Two Story
Parking
0 garage, Outside/Surface/Open 6 parking
MLS #
40775306
Size
1623 sqft
Basement
Separate Entrance,Full,Finished
Listed on
2025-10-01
Lot size
-
Tax
$7,522 /yr
Days on Market
1
Year Built
1950
Maintenance Fee
-
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 and 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. Updates in 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., Directions:North on Upper James to Empress Ave, then turn right (east)., Exclusions:
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Listing courtesy of: Royal LePage State Realty Inc.