5 Barnesdale Avenue, Hamilton, ON L8M 2V1
- $749,999
- 6
- BD
- 3
- BA
- 2,000
- SqFt
- List Price
- $749,999
- MLS#
- X13797112
- Status
- ACTIVE
- Type
- Single Family Residential
- SubType
- Detached
- Style
- 2 1/2 Storey
- Bedrooms
- 6
- Bathrooms
- 3
- Living Area
- 2000-2500
- Province
- ON
- Municipality
- Hamilton
- Area
- Hamilton
- Neighborhood
- Stipley
- Subdivision
- King St E
Property Description
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.
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Additional Information
- Taxes
- $4,471
- Heat Type
- Forced Air
- Heat Source
- Electric
- Air Conditioning
- None
- Kitchens
- 3
- Exterior
- Brick, Vinyl Siding
- Garage Type
- None
- Pool
- None
- Parking Spaces
- 2
- Parking Type
- Private Double
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Listing courtesy of ROYAL LEPAGE BURLOAK REAL ESTATE SERVICES.