5 Barnesdale Avenue,Hamilton, ON L8M 2V1
Hamilton, ON L8M 2V1
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.
Details
| MLS # | 40861672 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 41 |
| Listing Provided By | Royal LePage Burloak Real Estate Services | Zac Willms |
Features
| Bed(s) | 6 |
|---|---|
| Bath(s) | 3 Total |
| SQ Feet | 2,462 |
| Basement | Y |
| Story(s) | 2 |
| Zoning | TOC3 |
| Acreage | 0.05 |
Interior
| Rooms Total | 12 |
|---|---|
| Interior Features | Other |
| Cooling | None |
| Cooling Yes / No | No |
| Heating | Electric Forced Air |
| Heating Yes / No | Yes |
| Laundry Features | In-Suite |
Exterior
| Lot Features | Urban, City Lot, Highway Access, Hospital, Library, Place of Worship, Playground Nearby, Public Parking, Public Transit, Schools, Shopping Nearby |
|---|---|
| Construction Materials | Brick, Vinyl Siding |
| Roof | Asphalt Shing |
| Foundation Details | Concrete Block |
Parking
| Open Parking Yes / No | Yes |
|---|
Utilities
| Sewer | Sewer (Municipal) |
|---|
Taxes
| Tax Annual Amount | 4471.44 |
|---|
Area Information
| Province | ON |
|---|---|
| County | Hamilton |
| City | Hamilton |
| Postal Code | L8M 2V1 |
| Area | 20 Hamilton Centre |
| Subarea | 200 Gibson | Stipley |
| Community Name | 200 Gibson/Stipley |
| Listing VS Median (in 200 Gibson/Stipley) | |
Price: $749,999 low | high Med: $429,000 sqft: 2,462 low | high Med: 932 $ / sqft: $305 low | high Med: $460 On site: 41 low | high Med: 71 | |
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Learn More About This Property
| Province | ON |
|---|---|
| County | Hamilton |
| City | Hamilton |
| Postal Code | L8M 2V1 |
| Area | 20 Hamilton Centre |
| Subarea | 200 Gibson | Stipley |
| Community Name | 200 Gibson/Stipley |
| Listing VS Median (in 200 Gibson/Stipley) | |
Price: $749,999 low | high Med: $429,000 sqft: 2,462 low | high Med: 932 $ / sqft: $305 low | high Med: $460 On site: 41 low | high Med: 71 | |
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