Size
2462 sqft
Lot size
2380 sqft
Street frontage
-
Possession
-
Price per sqft
$305
Taxes
$4,471.44 (2026)
Parking Type
-
Style
Contemporary
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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.
Broker: Royal LePage Burloak Real Estate Services
MLS®#: 40861672
Property details
Parking:
2
Parking type:
-
Property type:
Detached
Heating type:
Electric F
Style:
Contemporary
MLS Size:
2462 sqft
Lot front:
28 Ft
Lot depth:
85 Ft
Listed on:
Sep 16, 2026
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Rooms
| Level | Name | Size | Features |
|---|---|---|---|
Basement | Kitchen | 2.74 x 2.18 ft | |
Second | Bathroom | Unknown | |
Second | Bedroom | 2.87 x 3.35 ft |
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