5 Barnesdale Avenue, Hamilton, ON L8M 2V1
Hamilton, ON L8M 2V1
About this property
SHOVEL-READY CONSTRUCTION OPPORTUNITY! Excellent opportunity for builders, developers and investors in Hamilton's Gibson/Stipley South neighbourhood. Situated on an approximately 28' x 85' lot, this development is approved for a 3-storey, 5-unit residential building, with the permit in final municipal review and the seller delivering the property with the permit issued and in hand at closing, ready to start construction immediately. Construction financing of approximately $1.5M is already approved and a qualified buyer may be able to step into it, and the project qualifies for CMHC MLI Select take-out financing of approximately $1.9M on completion. Once built, the 5 units are projected to generate approximately $12,100/month in gross rent, supporting a stabilized value in the $2.4M-$2.65M range. The proposed plans feature a mix of 1- and 3-bedroom units, balconies, bicycle parking and an accessory building for bike storage and garbage. Drawings and plans are available for review.
Property facts & features
- Property type
- Detached
- MLS® number
- X13797112
- Source status
- New
- Bedrooms
- 6
- Bathrooms
- 3
- Reported interior area
- Not provided
- Neighbourhood
- Not provided
- Postal code
- L8M 2V1
- Parking spaces
- 2
- Garage
- None
- Lot depth (source units)
- 85
- Annual property tax
- 4471.44
- Basement
- Partially Finished, Partial Basement
- Laundry
- Not provided
- Interior features
- Other
- Exterior features
- Not provided
Values and units are reported by the listing source. Verify measurements and fees with the brokerage.
Floor plans & room measurements
Floor plans and verified room measurements are not available for this property.
Property value & listing history
New · $749,999
Multi-event history, valuations and sold comparables require verified property identity and display permissions. No historical events or estimated values have been inferred.
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Explore active properties in Hamilton →Listing brokerage: ROYAL LEPAGE BURLOAK REAL ESTATE SERVICES. Displayed by EnterHome Realty. Source: authorized IDX record, MLS® X13797112. Information deemed reliable but not guaranteed.