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Domenica Carelli

domenica@carellirealty.ca +1(647) 214-2994

Listed by Zac Willms • Royal LePage Burloak Real Estate Services

$ 749,999

Est. payment -/mo

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Active

5 Barnesdale Avenue Hamilton, ON L8M 2V1

6 Beds

3 Baths

2,462 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Detached

Listing Status Active

Purchase Type For Sale

Square Footage 2,462 sqft

Price per Sqft $304

MLS Listing ID 40861672

Style Contemporary

Bedrooms 6

Full Baths 3

Abv Grd Liv Area 2,462

Annual Tax Amount $4,471

Property Sub-Type Detached

Source Cornerstone

Property 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.

Location

Province ON

County Hamilton

Area 20 - Hamilton Centre

Zoning TOC3

Direction King St E to Barnesdale Ave S

Rooms

Basement Partial, Partially Finished

Main Level Bedrooms 1

Bedroom 2 3

Bedroom 3 1

Kitchen 3

Interior

Interior Features Other

Heating Electric Forced Air

Cooling None

Fireplace No

Laundry In-Suite

Exterior

Roof Type Asphalt Shing

Lot Frontage 28.0

Lot Depth 85.0

Garage No

Building

Lot Description Urban, City Lot, Highway Access, Hospital, Library, Place of Worship, Playground Nearby, Public Parking, Public Transit, Schools, Shopping Nearby

Faces King St E to Barnesdale Ave S

Foundation Concrete Block

Sewer Sewer (Municipal)

Water Municipal

Architectural Style Contemporary

Level or Stories 2

Structure Type Brick,Vinyl Siding

New Construction No

Others

Senior Community No

Tax ID 172100153

Ownership Freehold/None

Domenica Carelli

Agent

+1(647) 214-2994

Domenica Carelli

5 Barnesdale Avenue Hamilton, ON L8M 2V1

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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5 Barnesdale Avenue