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C$1,197,000

reducedC$

924 Beach Blvd, Hamilton, Ontario, L8H 6Z4

bedrooms 5 Bedroom
|
washrooms 5 Bathroom
|
garages 0 Garage

MLS - #X12026322

FOR Sale

Description

Nestled on the highly sought-after Beach Boulevard, just 5 minutes from Downtown Burlington, this exceptional duplex offers a rare opportunity for both investors and small families to enjoy waterfront living. With 2 upgraded, fully equipped, & spacious units, this property provides flexibility for generating rental income or accommodating multi-generational living. Located steps from the shores of Lake Ontario, residents can enjoy beach access, scenic walking trails, & breathtaking views. Unit 1 (2670 total sq ft) features an open living space with an electric fireplace, engineered hardwood flooring throughout, & a dining area that flows into a chef-inspired kitchen. The kitchen features a gas range, stainless steel appliances, glass backsplash, under-cabinet lighting & a large island with seating. The main floor also includes the laundry room and a primary bedroom with a 4-piece ensuite & direct access to the backyard deck. Upstairs, you'll find an upgraded 4-pc bathroom, a second bedroom, & a spacious loft/den that can be converted into a third bedroom. The backyard boasts a large deck, patio area, green & space for gardening or development. It also includes a pad with 30-amp power for a workshop, shed, or garage, plus a 50-amp outlet for a hot tub. A 3-car paved driveway adds convenience. Unit 2 (1482 total sq ft) also offers engineered hardwood throughout, a modern open-concept kitchen, & large windows that create a bright & airy atmosphere. The main floor includes a laundry room and a 2-piece bathroom, while upstairs features two spacious bedrooms & a beautifully upgraded 4-piece bathroom. Unit 2 has its own 2-car paved driveway. Both units have their own private, fenced backyards for peaceful outdoor retreats. Just steps from the beach & mins from Lakeshore Rd & Downtown Burlington, youll have access to restaurants, cafes, shopping, & Spencer Smith Park. Commuters will appreciate the nearby Aldershot GO Station & easy access to major highways (403, 407, QEW)

Last check for updates

Property type

Duplex

Style

2-Storey

Community

Hamilton Beach

Lot size

11,757 Sqft

Garage spaces

0

Home Overview

Basement information

Part Bsmt, Unfinished

Virtual tour

Mls® #

X12026322

Building size

2500-3000

Status

Active

Property sub type

Taxes

$7,490

Tax year

2024

Maintenance fee

N/A

Year built

--

Interior

# total bathrooms

5

# Full baths

5

# of above grade bedrooms

5

# of rooms

13

Family room available

Yes

Laundry information

Main

Exterior

Construction materials

Vinyl Siding

Other structures

Garden Shed

# garage spaces

0

# parking spaces

5

Garage features

None

Has basement (y/n)

Yes

Has garage (y/n)

Yes

Drive

Private

Amenities / Utilities

Cooling

Central Air

Heat source

Gas

Heat type

Forced Air

Sewers

Sewers

Location

Water source

Municipal

Area

Hamilton

Community

Hamilton Beach

Community features

Beach, Fenced Yard, Hospital, Lake/Pond, Park, Public Transit

Directions

Beach Blvd / 4th Ave

walking  Walk Score for 924 Beach Blvd

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1. Determine the purchase price of the home.

2. Calculate the down payment (usually 5-20% of the purchase price in Canada).

3. Subtract the down payment from the purchase price to get the mortgage amount.

4. Choose a mortgage term (typically 5 years in Canada) and amortization period (usually 25-30 years).

5. Determine the interest rate (check current rates from Canadian lenders).

6. Use a mortgage calculator or formula to determine the monthly payment based on the mortgage amount, interest rate, and amortization period.

7. Factor in additional costs like property taxes, home insurance, and possibly mortgage insurance if the down payment is less than 20%.

8. Consider the impact of making accelerated bi-weekly payments instead of monthly payments to pay off the mortgage faster.

9. Review the total interest paid over the life of the mortgage.

10. Ensure the monthly payments fit within your budget, typically not exceeding 32% of your gross monthly income for housing costs.

Terms Explained

Home Value: The current market value or purchase price of the property.

Down Payment: The initial upfront portion of the total home purchase price paid by the buyer.

Mortgage Amount: The amount borrowed from a lender to purchase the home (Home Value minus Down Payment).

Interest Rate: The percentage charged by the lender for borrowing the money, usually expressed as an annual rate.

Mortgage Term: The length of time your mortgage agreement and interest rate are in effect (typically 1-5 years in Canada).

Amortization Period: The total length of time it will take to pay off the entire mortgage (usually 25-30 years in Canada).

Monthly Payment: The amount paid each month towards the mortgage, including principal and interest.

Principal: The original amount borrowed, which decreases as payments are made.

CMHC Insurance: Mortgage default insurance required for down payments less than 20% of the home's value.

Property Taxes: Annual taxes levied by local governments based on the property's assessed value.

Home Insurance: Coverage to protect the property against damage or loss.

Land Transfer Tax: A tax paid to the provincial government when purchasing a property.

Closing Costs: Additional expenses incurred when finalizing a home purchase (legal fees, inspections, etc.).

Prepayment Privileges: Options to pay extra towards the mortgage without penalties.

Fixed Rate Mortgage: A mortgage where the interest rate remains constant for the term.

Variable Rate Mortgage: A mortgage where the interest rate can fluctuate based on the prime rate.

Refinancing: The process of replacing an existing mortgage with a new one, often to take advantage of better terms or rates.

These terms are commonly used in mortgage calculations and discussions about home financing in Canada.
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