5 Barnesdale Avenue

About this home

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.

Details

Type

Detached

Style

2 1/2 Storey

Size

2000-2500 sq ft

Lot

28 × 85 ft

Basement

Partially Finished, Partial Basement

Garage

None

Kitchens

3

Property tax

$4,471 (2026)

Neighbourhood

Stipley

Municipality

Hamilton

Price per sq ft

$333 (about the same as detached houses in Stipley)

Interior

Bedrooms

5 above ground + 1 below

Bathrooms

1 × 4-piece (main), 1 × 3-piece (second), 1 × 4-piece (basement)

Kitchens

3 (1 below ground)

Rooms

8 above ground + 2 below

Family room or den

No

Fireplace

No

Heating, cooling and services

Heating

Forced Air, Electric

Water and sewer

Sewer

Building and exterior

Style

2 1/2 Storey

Exterior

Brick, Vinyl Siding

Roof

Asphalt Shingle

Foundation

Concrete Block

Faces

West

Parking

Total parking

2

Driveway and parking

Private Double

Lot

Size

28 × 85 ft

More

Possession

flexible

Nearby

Hospital, Library, Place Of Worship, Public Transit, School

Cross street

King St E

Rooms