518 CANNON Street E, Hamilton, Ontario, L8L 2E8

MLS® # 40832202

Investment For Sale In Gibson, Hamilton, Ontario

$599,000

Details
Map
Demographics
Street View
Get Directions

518 Cannon Street E, Hamilton, ON - Outdoor

Virtually Staged - 518 Cannon Street E, Hamilton, ON - Indoor Photo Showing Living Room

Virtually Staged - 518 Cannon Street E, Hamilton, ON - Indoor Photo Showing Dining Room

518 Cannon Street E, Hamilton, ON - Indoor Photo Showing Kitchen With Double Sink

Virtually Staged - 518 Cannon Street E, Hamilton, ON - Indoor Photo Showing Bedroom

Virtually Staged - 518 Cannon Street E, Hamilton, ON - Indoor Photo Showing Bathroom

518 Cannon Street E, Hamilton, ON - Indoor Photo Showing Other Room

Advertising

518 CANNON Street E, Hamilton, Ontario, L8L 2E8

$599,000

Property Information:

Welcome to this exceptional opportunity to own a fully tenanted 2.5-storey triplex ideally located on a prominent corner lot in Hamilton’s vibrant east end. Perfectly suited for buyers looking to break into the market with the advantage of built-in rental income, this property offers the ideal blend of homeownership and long-term financial flexibility. Whether you are looking to offset your mortgage through house hacking, build equity faster, or expand your real estate portfolio with a cash-flowing asset, this is the type of property that delivers versatility and upside. The home features three self-contained units across a spacious and character-filled layout, along with the added convenience of a side parking pad. Currently generating approximately $51,576 in annual gross income with a projected NOI of roughly $41,688 annually, the property also presents a strong conservative income profile even when accounting for management and maintenance reserves. Situated on Cannon Street East, the location provides excellent access to public transit, major routes, schools, parks, and Tim Hortons Field, while remaining close to everyday amenities and growing neighbourhood conveniences. A rare opportunity to secure an income-generating property with strong fundamentals, mortgage-support potential, and long-term value growth in one of Hamilton’s evolving communities. (id:27)

Building Features:

Style: Triplex
Building Type: Triplex
Basement Development: Unfinished
Basement Type: Full
Exterior Finish: Vinyl siding
Floor Space: 2125 sqft Square Feet
Heating Type: Forced air
Heating Fuel: Natural gas
Cooling Type: Central air conditioning

Property Features:

OwnershipType: Freehold
Property Type: Multi-family
Amenities Nearby: Park, Playground, Public Transit, Schools, Shopping
Community Features: Community Centre, School Bus
Floor Space (approx): 2125 Square Feet
Irregular: Yes
Lot Depth: 100 Feet
Lot Frontage: 25 Feet
Lot Size: 0.04 Acres
Zoning: D
Sewer: Municipal sewage system
Parking Type: Open
No. of Parking Spaces: 3

Courtesy of: Real Broker Ontario Ltd.

More Detail

Less Detail

Market Price Trends

Single family detached

-0.91%

Price change (1 year)

23.59%

Price change (5 years)

All Properties

-0.88%

Price change (1 year)

23.44%

Price change (5 years)

Location of 518 CANNON Street E, Hamilton, Ontario, L8L 2E8

Lifestyle
Neighbourhood

Demographic Information of 518 CANNON Street E, Hamilton, Ontario, L8L 2E8

Life Stage

Young Couples

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$83,497.58

Average Number of Children

1.95

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

33.38 %

High school certificate or equivalent

29.76 %

Apprenticeship trade certificate/diploma

5.41 %

College/non-university certificate

18.68 %

University certificate (below bachelor)

0.15 %

University Degree

12.63 %

Commuter

Travel To Work

By Car

72.33 %

By Public Transit

15.89 %

By Walking

7.17 %

By Bicycle

1.07 %

By Other Methods

3.54 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

32.8 %

Houses

67.2 %

Own Vs. Rent

More Detail

Less Detail

Property Information:

Building Features:

Property Features:

Market Price Trends

Single family detached

All Properties

Location of 518 CANNON Street E, Hamilton, Ontario, L8L 2E8

Demographic Information of 518 CANNON Street E, Hamilton, Ontario, L8L 2E8

Household Population

Household Structure

Age of Population

Education

Education Level

Commuter

Travel To Work

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Own Vs. Rent

518 CANNON Street E, Hamilton, Ontario, L8L 2E8

Please contact your agent directly about this listing

Please contact your agent directly about this listing

Please contact your agent directly about this listing