1 / 85 BARNESDALE Avenue
Hamilton, Ontario, L8M2V1
$749,999
Bedrooms
6
Bathrooms
3
Living area
2,462 square feet
Parking
2
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. (id:66779)
Rooms
| 4pc Bathroom | Basement | — |
| Bedroom | Basement | 5'3'' x 8'1'' |
| Kitchen | Basement | 7'2'' x 9'0'' |
| Bedroom | Third level | 25'6'' x 10'10'' |
| 3pc Bathroom | Second level | — |
| Bedroom | Second level | 10'0'' x 9'4'' |
| Bedroom | Second level | 11'0'' x 8'6'' |
| Bedroom | Second level | 11'0'' x 9'5'' |
| Kitchen | Second level | 12'4'' x 10'7'' |
| 4pc Bathroom | Main level | — |
| Bedroom | Main level | 13'4'' x 11'0'' |
| Kitchen | Main level | 14'4'' x 8'10'' |
Details
- Sewer
- Municipal sewage system
- Cooling
- None
- Heating
- Forced air
- List aor
- Cornerstone
- Stories
- 2.5
- Basement
- Partially finished, Partial
- Directions
- King St E to Barnesdale Ave S
- Fireplace
- No
- Water source
- Municipal water
- Structure type
- House
- Tax annual amount
- 4,471.44
- Exterior features
- Brick, Vinyl siding
- Foundation details
- Block
- Zoning description
- TOC3
- Architectural style
- Contemporary
- Bedrooms above grade
- 5
- Bedrooms below grade
- 1
- Property attached
- No
- Above grade finished area
- 2,462
More in Hamilton
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