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$ 599,000
Est. payment /mo
New
518 CANNON Street E Hamilton, ON L8L2E8
5 Beds
3 Baths
2,125 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2125
Square Footage 2,125 sqft
Price per Sqft $281
Subdivision 200 - Gibson/Stipley
MLS® Listing ID 40832202
Bedrooms 5
Lot Size 1,742 Sqft
Acres 0.04
Property Sub-Type Freehold
Property 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:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air,
Cooling Central air conditioning
Exterior
Parking Features No
Community Features Community Centre, School Bus
View Y/N No
Attached Garage No
Total Parking Spaces 3
Garage No
Private Pool No
Building
Story 2.5
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by Real Broker Ontario Ltd.
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