5 Barnesdale Avenue, Hamilton, ON L8M 2V1
Hamilton, ON, L8M 2V1 · Stipley
About this property
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.
Features & Amenities
- Basement: Partially Finished, Partial Basement
- Garage: None
- Cooling: None
- Heat Type: Forced Air
- Heat Source: Electric
- Style: 2 1/2 Storey
- Construction: Brick, Vinyl Siding
- Sewer: Sewer
Property Details
| Property Type | Residential Freehold |
|---|---|
| Property Sub-Type | Detached |
| Architectural Style | 2 1/2 Storey |
| Bedrooms | 6 |
| Bathrooms | 3 |
| Basement | Partially Finished, Partial Basement |
| Garage | None |
| Parking Spaces | 2 |
| Heat Type | Forced Air |
| Heat Source | Electric |
| Cooling | None |
| Sewer | Sewer |
| Annual Tax | $4,471 |
| Tax Year | 2026 |
Interior Features
- Interior Features
- Other
Exterior Features
- Pool Features
- None
Building & Construction
- Architectural Style
- 2 1/2 Storey
- Construction Materials
- Brick, Vinyl Siding
- Foundation Details
- Concrete Block
- Roof
- Asphalt Shingle
- Basement
- Partially Finished, Partial Basement
Heating & Cooling
- Heat Type
- Forced Air
- Heat Source
- Electric
- Cooling
- None
Parking & Garage
- Garage Type
- None
- Parking Spaces
- 2
- Parking Total
- 2.00
- Parking Features
- Private Double
- Covered Spaces
- 0
Lot & Land
- Lot Size Units
- Feet
- Lot Depth
- 85.00
- Lot Width
- 28.00
Community & Neighborhood
- Property Features
- Hospital, Library, Place Of Worship, Public Transit, School
Financial & Tax
- Tax Annual Amount
- $4,471
- Tax Year
- 2026
- Possession Type
- Flexible
- Possession Details
- flexible
Utilities & Services
- Sewer
- Sewer
Room Details
- Rooms Above Grade
- 8
- Rooms Below Grade
- 2
- Kitchens Above Grade
- 2
- Kitchens Total
- 3
- Bedrooms Above Grade
- 5
- Bedrooms Below Grade
- 1
Additional Details
- Occupant Type
- Vacant
- Direction Faces
- West
- County Or Parish
- Hamilton
- Cross Street
- King St E
- Directions
- King St E to
- Special Designation
- Unknown
- Showing Requirements
- Lockbox
Location
5 Barnesdale Avenue, Hamilton, ON L8M 2V1, Hamilton, ON, L8M 2V1