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Investment signal

$1,275,000

251 KING Street E

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Beds

Baths

Sqft

—

Year

1960

Type

Multi-family

Suite

Suite potential

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Location nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Stoney Creek. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

About this home

Rare Investment & Development Opportunity! This legal, turnkey triplex sits on a massive 79ft x 224ft lot in prime Stoney Creek. Offering incredible versatility, this property features three fully self-contained, permitted units—ideal for a pure investor, land-banker, or owner-occupant seeking a massive mortgage helper. Main Bungalow: Features a spacious 4-bed, 2-bath upper level and a newly renovated 2-bed lower-level apartment with a private entrance and modern finishes. Coach House: A detached, fully renovated 2-bedroom residence with its own separate address, parking, and yard/patio for ultimate privacy. Located in the heart of Stoney Creek with easy access to shopping, schools, buses, and the QEW. Live in one unit and let the rent fund the investment. All units are legal and permitted. A must-see! (id:65958)

Subtype: Multi-family
Structure: Triplex
Community: 516 - Cherry Heights
Common interest: Freehold
Living area: 2,400 square feet
Parking: 15 total
Stories: 1
On market: Apr 9, 2026
Status changed: Apr 20, 2026
Annual tax: $8,320.38
Zoning: R1
Photos: 45
MLS#: 40818842
Area: STONEY_CREEK

Features and systems

Basement

FinishedFull

Heating

Forced airNatural gas

Cooling

Central air conditioning

Exterior

StuccoAluminum siding

Foundation

Block

Lot

Southern exposurePaved drivewayCrushed stone driveway

Community

Quiet AreaSchool Bus

Negative cash flow ~$1,370/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)Default 4.5% — adjust to your rate holdAmortization (years)

Cash on cash

-6.45%

Cap rate

3.57%

GRM

16.7

Break-even rent

$7,817

Financing

Down payment$255,000

Loan amount$1,020,000

Mortgage$5,168/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$584

Insurance$80

Maintenance$1,063

CapEx reserve$531

Vacancy loss$319

Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.

Mortgage estimate

Estimated $5,168/mo at 4.5% with 20% down, 30-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 20, 2026.