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
Property Sub Type:
Detached
Home Style:
2 1/2 Storey
Total Approx Floor Area:
2000-2500
Lot Depth:
85'25.9 m
Lot Frontage:
28'8.53 m
Direction Faces:
West
Bedrooms:
5+1
Bathrooms:
3.0
Water supply:
Municipal
Kitchens:
3
Kitchens in Basement:
1
Bedrooms Above Grade:
5
Bedrooms Below Grade:
1
Kitchens Above Grade:
2
Rooms Above Grade:
8
Rooms Below Grade:
2
Heating type:
Forced Air
Heating Fuel:
Electric
Foundation:
Concrete Block
Roof:
Asphalt Shingle
Basement:
Partially Finished, Partial Basement
Fireplace/Stove:
No
Garage:
None
Garage Spaces:
0.0
Parking Features:
Private Double
Parking Spaces:
2
Total Parking Spaces:
2.0
Family Room:
No
Possession Details:
flexible
Pool:
None
Link:
No
HST Applicable To Sale Price:
Included In
Taxes:
$4,471.44 /
2026
Assessment:
$- /
-
Hamilton
Hamilton
Stipley
Hospital, Library, Place Of Worship, Public Transit, School
Listed by ROYAL LEPAGE BURLOAK REAL ESTATE SERVICES
Data was last updated September 20, 2026 at 10:15 PM (UTC)
Area Statistics
Listings on market:
16
Avg list price:
$523,450
Min list price:
$299,900
Max list price:
$799,900
Avg days on market:
28
Min days on market:
3
Max days on market:
108
These statistics are generated based on the current listing's property type
and located in
Stipley. Average values are
derived using median calculations. This data is not produced by
the MLS® system.
This website may only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via the website.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the PropTx MLS®. The data is deemed reliable but is not guaranteed to be accurate.