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$ 749,999
Est. payment | /mo
6 Beds
3 Baths
$ 749,999
Est. payment | /mo
6 Beds
3 Baths
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2000-2500
Subdivision Stipley
MLS Listing ID X13797112
Style 2 1/2 Storey
Bedrooms 6
Annual Tax Amount $4,471
Tax Year 2026
Property Sub-Type Detached
Property Description
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.
Location
Province ON
County Hamilton
Area Hamilton
Rooms
Basement Partially Finished, Partial Basement
Kitchen 3
Interior
Interior Features Other
Cooling None
Inclusions All as-is, where-is.
Exterior
Parking Features None
Pool None
Roof Type Asphalt Shingle
Total Parking Spaces 2
Building
Foundation Concrete Block
Lited by ROYAL LEPAGE BURLOAK REAL ESTATE SERVICES
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