518 Cannon Street E,Hamilton, ON L8L2E8
Hamilton, ON L8L2E8
Description
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:13843)
Details
| MLS # | 40832202 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 153 |
| Listing Provided By | Real Broker Ontario Ltd. | Sandy MacKay |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 3 Total |
| SQ Feet | 2,125 |
| Basement | Y |
| Story(s) | 2 |
| Units | 3 |
| Zoning | D |
| Acreage | 0.04 |
Interior
| Cooling | Central air conditioning |
|---|---|
| Heating | Forced air, Natural gas |
| Fireplace Yes / No | No |
Parking
| Parking Features | Open |
|---|---|
| Parking Total | 3 |
Utilities
| Sewer | Municipal sewage system |
|---|---|
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 2763 |
|---|
Area Information
| Province | ON |
|---|---|
| City | Hamilton |
| Postal Code | L8L2E8 |
| Community Name | 200 Gibson/Stipley |
| Listing VS Median (in 200 Gibson/Stipley) | |
Price: $549,000 low | high Med: $429,000 sqft: 2,125 low | high Med: 932 $ / sqft: $258 low | high Med: $460 On site: 153 low | high Med: 64 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Hamilton |
| Postal Code | L8L2E8 |
| Community Name | 200 Gibson/Stipley |
| Listing VS Median (in 200 Gibson/Stipley) | |
Price: $549,000 low | high Med: $429,000 sqft: 2,125 low | high Med: 932 $ / sqft: $258 low | high Med: $460 On site: 153 low | high Med: 64 | |
