$1,648,988 - 879 West 5th Street, Hamilton
Detached for Sale in Hamilton
83 days on market- MLS Number
- X12920756
- Property Type
- Detached
- Status
- active
- Days on Site
- 83
- Bedrooms
- 3
- Bathrooms
- 1
- Square Feet
- 1,100 - 1,499 sqft
- Neighbourhood
- Hamilton
- Lot Size
- 25,022 sqft
- Listing Brokerage
- RE/MAX REAL ESTATE CENTRE INC.
Prime West Mountain Development Opportunity | Hamilton MountainExceptional investment opportunity in a highly sought-after West Mountain location with rare frontage on two streets. This expansive, oasis-like city lot offers outstanding flexibility for builders, developers, and investors alike.The existing bungalow is well-suited for occupancy, allowing you to live in or rent out the home while you begin planning and construction-an ideal setup to offset carrying costs during development.Approved severance is already in place, allowing for two rear lots to accommodate the construction of additional homes. The property is fully serviced with water and sewer connections for up to 4 lots, saving valuable time and development costs.Explore a wide range of possibilities: sever into 2 premium lots, create 4 spacious 50 ft lots, or take advantage of the zoning change on the front portion, which permits a potential 6-storey residential building with an estimated 32-56 units. There is also the option to develop up to 12 townhouses or residences using MLI Select financing.Ideally located near Stone Church and West 5th Street, this property is just minutes from Mohawk College's main Fennell Campus, located directly on West 5th Street -making it highly attractive for student housing or rental development.Close to schools, shopping, transit, and all key amenities in a rapidly growing area.A rare opportunity to secure a versatile, high-potential redevelopment site in one of Hamilton Mountain's most desirable neighborhoods. Don't miss out on this incredible opportunity!
Estimate your monthly payments for this property
Estimated Payment
$7,294.03/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Hamilton
Hamilton is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Hamilton
- •Convenient location in Hamilton
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Hamilton offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
879 West 5th Street, Hamilton
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Rental income estimator & ROI calculator
Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Premium Pricing
At $1499/sqft, this property is priced above the Hamilton average of $950/sqft. I'd want to see upgraded finishes, premium location, or recent renovations to justify this price point. During our showing, I'll point out exactly what you're paying extra for.
Negotiation Opportunity
At 83 days on site, this property has exceeded the typical selling timeline for Hamilton. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Detached Home Advantages
Detached homes in Hamilton are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Starter Home Potential
3 bedrooms works well for couples planning families or small families with one child. Consider whether you might outgrow the space in 5-7 years. If so, factor in potential moving costs when making your decision. Alternatively, some buyers convert a bedroom to an office and make it work long-term.
Investment Perspective
Looking at this as an investment: Hamilton properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $6,871 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.
Let's See It Together
Photos only tell part of the story. During our showing, I'll point out things the camera doesn't capture: neighbourhood feel, natural light quality, traffic noise, and overall condition. I'll also share what comparable homes have sold for and help you craft a winning strategy if you decide to move forward.