5 BARNESDALE AVENUE
Hamilton (Stipley), Ontario
MLS® X13797112
$749,999
- Status
- Active
- Property type
- House
- MLS® number
- X13797112
- Bedrooms
- 6
- Bathrooms
- 3
- Year built
- —
1 / 11Listing 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.
Property summary
- MLS® number
- X13797112
- Property type
- Single Family
- Building type
- House
- Title
- Freehold
- Land size
- 28 x 85 FT
- Annual property taxes
- $4,471.44
- Parking
- 2 spaces · No Garage
- Days on market
- 13 days
Features & details
- Heating
- Forced air, Electric
- Cooling
- None
- Basement
- Partially finished, Partial
- Exterior features
- Brick, Vinyl siding
What would this home cost you?
Based on the $749,999 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of ROYAL LEPAGE BURLOAK REAL ESTATE SERVICES, BURLINGTON.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.