Kitchen (4.37335 × 2.69)
Level: Main
Stipley, Hamilton, Ontario L8M 2V1
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 activity for 5 Barnesdale Ave, Hamilton, Ontario
| Date Start | Date End | List Price | Price | Event | Listing ID |
|---|---|---|---|---|---|
| N/A | N/A | $749,999 | N/A | For Sale | X13797112 |
Level: Main
Level: Main
Level: 2nd
Level: 2nd
Level: 2nd
Level: 2nd
Level: 2nd
Level: Bsmt
Level: Bsmt
Public records about this location. Not part of the MLS® listing and not provided by the listing brokerage.
Province of Ontario open data
Province of Ontario open data
Province of Ontario open data · Municipal transit open data
Province of Ontario open data · Government of Canada open data
Ontario Energy Board · Innovation, Science and Economic Development Canada
None of this is an inspection of the property. Confirm anything that matters to you with the municipality, the conservation authority or the record’s publisher. Contains information licensed under the Open Government Licence – Canada. Contains information licensed under the Open Government Licence – Ontario. Contains public sector Data made available under the City of Hamilton's Open Data Licence
Monthly Payment
$3,438
Total monthly payment
$3,811
Break-even down payment
100%
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$749,999
$749,999
CAD
Estimate unavailable
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