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5 BARNESDALE AVENUE, Hamilton (Stipley) — 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 |
|---|---|---|
| Kitchen | Main level | 2.69 x 4.3734 meters |
| Bedroom | Main level | 3.35 x 4.06 meters |
| Kitchen | Second level | 3.23 x 3.76 meters |
| Bedroom 2 | Second level | 2.87 x 3.35 meters |
| Bedroom 3 | Second level | 2.59 x 3.35 meters |
| Bedroom 4 | Second level | 2.84 x 3.35 meters |
| Bedroom 5 | Second level | 3.3 x 7.77 meters |
| Kitchen | Basement | 2.74 x 2.18 meters |
| Bedroom | Basement | 2.46 x 1.6 meters |
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 5 BARNESDALE AVENUE a good fit for a growing family?+
With 6 bedrooms and 3 bathrooms, there's room for kids plus a guest room or home office. The 2.5-storey layout keeps living and sleeping areas separated.
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 are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $4,471.44, heating is forced air, electric. Always verify the latest figures with your agent before making an offer — these change yearly.
What's the parking situation?+
This property includes 2 spaces — No Garage.
How is the home heated? Is it efficient?+
Heating is forced air, electric. Electric heating can mean higher winter bills — ask for past utility statements.
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