5 Barnesdale Avenue, Hamilton, Ontario L8M 2V1

Listed for:
$749,999
6 beds
3 baths
Listed 13 days ago
House for rent: 5 Barnesdale Avenue, Hamilton, Ontario L8M 2V1

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About

King St E to Barnesdale Ave S 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:27476)

Property Highlights

MLS® Number
40861672
Type
Single Family
Ownership Type
Freehold
Land Size
under 1/2 acre
Parking Space Total
2

Building

Building Type
House
Storeys
2.50
Square Footage
2462 sqft
Bathrooms Total
3
Bedrooms Above Ground
5
Bedrooms Total
6
Amenities
Hospital, Place of Worship, Playground, Public Transit, Schools, Shopping
Exterior Finish
Brick, Vinyl siding
Fireplace Present
No
Basement Type
Partial (Partially finished)
Basement Features
Building Heating Type
Forced air
Heating Fuel
Building Cooling Type
None

Utilities

Water
Municipal water
Utility Sewer
Municipal sewage system

Room Layout

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''

Location

Learn more about this property
Listing provided by:
Royal LePage Burloak Real Estate Services
MLS® number:
40861672
Agent:
Zac Willms
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Street Spotlight - For sale