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Gourley, Hamilton
$1,450,000
A rare opportunity to acquire a premier development site in one of Hamilton's fastest-growing corridors. Welcome to 879 West 5th Street. A 100' x 253' property with exceptional dual street frontage on West 5th Street and Fortissimo Drive, offering outstanding redevelopment potential. The property also benefits from City-approved R4 (Mid-Rise Residential) rezoning, currently pending appeal, creating exciting future development possibilities. Approved severance for two rear lots and municipal water and sewer services already in place for additional lots help reduce development timelines and soft costs. Explore the potential for a four-lot detached subdivision, luxury townhomes, semi-detached homes, or a higher-density residential project. The existing three-bedroom bungalow provides immediate rental income while development plans are finalized. Ideally located just down the street from Mohawk College's Fennell Campus and minutes to the Upper James Street and Stone Church Road corridor, with convenient access to shopping, transit, parks, schools, and major highways, the location is ideal for student housing, family-oriented development, or professional rentals. Offering an exceptional combination of size, servicing, dual frontage, future zoning potential, income generation, and a prime West Mountain location, opportunities like this are becoming increasingly rare. Whether you're a builder, developer, or investor, 879 West 5th Street is reay for your vision.
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| Type | Detached |
| Style | Bungalow |
| Approx. Age | 51-99 |
| Size | 1100-1500 sq. ft. |
| Property Tax | $5,569 |
| Lot Size | 100.81 ft x 253 ft |
| mls© Number | X13561930 |
| Listed By | KELLER WILLIAMS COMPLETE REALTY |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
Could you afford this home?
What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $7,422
- Property tax
- $464
- Heat allowance
- $150
- Housing costs
- $8,036 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$247,000
gross annual household income
- Payment at 4%
- $6,102 / mo
- Cash down
- $290,000
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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