5 BARNESDALE Avenue, Hamilton, Ontario L8M 2V1
$749,999.00
- 6 bedrooms
- 3 bathrooms
- 2,462 Square Feet
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. ... read more
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. (id:25417)
- Listing ID: 40861672
- Property Type: Single Family
| Property | |
|---|---|
| Style: | Contemporary |
| Ownership: | Freehold |
| Lot Size: | Under 1/2 Acre |
| Parking: | 2 Spaces |
| Building | |
|---|---|
| Type: | Single Family House |
| HVAC: | Fireplace and Forced Air |
| Exterior: | Brick and Vinyl Siding |
| Basement: | Partial (Partially Finished) |
| Utilities: | Municipal Sewage System |
| Location | |
|---|---|
| City: | Hamilton |
| Province: | Ontario |
| Nearby Amenities: | Hospital, Place Of Worship, Playground, Public Transit, Schools and Shopping |
| Rooms | Level | Dimensions |
|---|---|---|
| 3pc Bathroom | Second level | Measurements not available |
| Bedroom | Second level | 9'4'' x 10'0'' |
| Bedroom | Second level | 8'6'' x 11'0'' |
| Bedroom | Second level | 9'5'' x 11'0'' |
| Kitchen | Second level | 10'7'' x 12'4'' |
| Bedroom | Third level | 10'10'' x 25'6'' |
| 4pc Bathroom | Basement | Measurements not available |
| Bedroom | Basement | 8'1'' x 5'3'' |
| Kitchen | Basement | 9'0'' x 7'2'' |
| 4pc Bathroom | Main level | Measurements not available |
| Bedroom | Main level | 11'0'' x 13'4'' |
| Kitchen | Main level | 8'10'' x 14'4'' |
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