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About the Listing 190201 -
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.
Listing Highlights for 5 Barnesdale Ave
Interior Details
- Bedrooms: 6
- Bathrooms: 3 Full
- Appliances:
- Air Cond:
- Heating: Electric
- Fireplaces:
- Floor:
- Basement: Partially Finished,Partial Basement
- Other: 3 Kitchens
- Water:
Exterior Details
- Garage Capacity: 2 car
- Roof: Asphalt Shingle
- Others: Hospital,Library,Place Of Worship,Public Transit,School
- Sewer: Sewer
- Parking Features: Private Double,No Garage
Financial Details
- Tax Amount: $4,471
- Taxes w/Assessments: N/A
- Tax/Property ID: 172100153
- Tax Year: 2026
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Monthly Payment
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Listing Location
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5 Barnesdale Ave Hamilton, ON L8M 2V1
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