424 EAST 42ND Street
Hamilton, Ontario
14 bed • 6 bath • Multi-family
Rare multi-residential investment opportunity in Hamilton’s desirable East Mountain! This purpose-built property features six two-storey town homes, including two 3-bedroom end units and four 2-bedroom units, each designed with private entrances, individual laundry and bonus unfinished basements offering additional potential. The building has been exceptionally maintained, with major mechanical updates completed in 2025 including new furnaces and air conditioning systems, providing investors with predictable operating costs and minimal near-term capital expenditures. Each unit is well cared for, creating a strong foundation for stable tenancy. Investors will appreciate the significant rental upside, with opportunities to optimize rents over time while benefiting from the property’s solid fundamentals. A standout feature is the six detached garages, offering valuable additional income potential and tenant convenience. Ideally located in Hamilton’s East Mountain, the property is close to major highways, shopping, schools, parks and transit, making it highly attractive for tenants and ensuring long-term rental demand. A truly rare chance to acquire a multi-unit asset in a prime location with strong income potential and long-term growth. Don’t be TOO LATE*! *REG TM. RSA.
Price History
Schools
Secondary
- Hill Park System Alternative Education0.4 km
Public · Hamilton-Wentworth DSB
- ÉSAC Mère-Teresa1.3 km
French Catholic · CS catholique MonAvenir · 300 students
Grade 10 literacy: 90% met the provincial standard
- Sherwood Secondary School1.6 km
Public · Hamilton-Wentworth DSB · 1255 students
Grade 10 literacy: 79% met the provincial standard
Elementary
- Blessed Sacrament Catholic Elementary School0.7 km
Catholic · Hamilton-Wentworth CDSB · 305 students
Grade 3 reading: 70% met the provincial standard · Grade 6 math: 50% met the provincial standard
- Richard Beasley Junior Public School0.7 km
Public · Hamilton-Wentworth DSB · 165 students
Grade 3 reading: 62% met the provincial standard
- Lawfield Elementary School0.9 km
Public · Hamilton-Wentworth DSB · 685 students
Grade 3 reading: 61% met the provincial standard · Grade 6 math: 38% met the provincial standard
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
Community
Postal area L8T
- Population
- 19,405
- Private dwellings
- 7,948
- Median age
- 43.6
- Average household size
- 2.5
- Median household income
- $85,000
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Multi-family in Hamilton · last 12 months
- Median sold price
- $683,250
- Homes sold
- 5,010
- Median days on market
- 27
- Sale-to-list price
- 97.1%
Based on 5,010 recorded sales of multi-family properties in Hamilton over the last 12 months.
Location
Mortgage Calculator
$399,800
Estimated Monthly Payment
$9,820
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $9,820/mo (20% down, 5.5%)
Taxes: $0/mo · Insurance: $500/mo
Estimates only. Consult a financial advisor.
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