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5 BARNESDALE Avenue, Hamilton — listed at $749,999. Earn buyer cashback at closing. No catches, just more money in your pocket.
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:60164)
| Room | Level | Dimensions |
|---|---|---|
| 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'' |
How is the space laid out across floors?+
This is a 2.5-storey single family. The 6 bedrooms and 3 bathrooms are typically split with living areas on the main floor and bedrooms above — confirm the exact layout during a showing.
Is 5 BARNESDALE Avenue a good fit for a growing family?+
With 6 bedrooms and 3 bathrooms (2462 sq ft), there's room for kids plus a guest room or home office. The 2.5-storey layout keeps living and sleeping areas separated.
Does it have a basement, and is it finished?+
Yes — Partially finished, Partial. A finished basement adds meaningful living space beyond the listed square footage.
Is there air conditioning?+
No central cooling is listed. Budget for portable or window units, or get a quote for adding central air — typically $5,000–$10,000 installed.
What's the parking situation?+
This property includes 2 spaces.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $4,471.44, heating is forced air. Always verify the latest figures with your agent before making an offer — these change yearly.
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