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$749,999
Status: For Sale
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.
| Property Type | :Residential Freehold |
|---|---|
| MLS Number | :X13797112 |
| Listing Type | :Sale |
| Possession Date | : |
| Last Updated | :18 Sep, 2026 (2 Days ago) |
| Source | :Toronto Regional Real Estate Board |
| Area | :Hamilton |
|---|---|
| Postal Code | :
L8M 2V1
|
| Price | : $749,999 |
|---|---|
| Property Taxes | :$4471.44 |
| Tax Year | :2026 |
|---|
| Bedrooms | :5 + 1 |
|---|---|
| No. of Rooms | :8 |
| Heating | :Forced Air |
| Place of Worship | :Yes |
| Cross Street | :King St E |
| Bathrooms | :3 |
|---|---|
| Fuel | :Electric |
| Approx Square Footage | :2000-2500 sqft |
| Fireplace/Stove | :No |
| Bedroom 3 | :2.59 m x 3.35 m |
|---|---|
| Kitchen | :3.23 m x 3.76 m |
| Bedroom | :3.35 m x 4.06 m |
| Kitchen | :2.74 m x 2.18 m |
| Bedroom 5 | :3.3 m x 7.77 m |
| Bedroom 4 | :2.84 m x 3.35 m |
|---|---|
| Kitchen | :2.69 m x 4.37335 m |
| Bedroom 2 | :2.87 m x 3.35 m |
| Bedroom | :2.46 m x 1.6 m |
| Exterior Finish | :Brick, Vinyl Siding |
|---|---|
| Parking Space | :2 |
| Basement | :Partially Finished |
| Library | :Library |
|---|
17 Sep, 2026
TREB #X13797112
Listed
$749999.0
