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MLS® X13797112
Hamilton, ON
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.
Inclusions
All as-is, where-is.
Broker
ROYAL LEPAGE BURLOAK REAL ESTATE SERVICES
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Detached
5 Barnesdale Avenue Hamilton
Hamilton
Type
Detached
Basement
Partially Finished, Partial Basement
Parking
None (2)
Property Tax
~$4,471/yr
Heating
Forced Air
Buying Essentials
Square Feet
2250 sqft
Facing Direction
West
Parking
None (2)
Finances
List Price
$749,999
Price per SQFT
$333/sqft
Property Tax
~$4,471/yr
Property Specs
Property Type
Detached
MLS Size
2250 sqft
Basement
Partially Finished, Partial Basement
Living & Amenities
Heating Type
Forced Air
Features
Other
Policies & Utilities
Neighbourhood
Hamilton
Listed On
Sep 16, 2026
Hospital
Library
Place Of Worship
Public Transit
School
Days on Market
Current: 52 days
Room information is not available for this listing.
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