518 CANNON Street East, Hamilton, Ontario L8L2E8
Listing courtesy of Real Broker Ontario Ltd..
- $549,000
- 5
- BD
- 3
- BA
- 2,125
- SqFt
- List Price
- $549,000
- Price Change
- ▼ $50,000 1788574488
- MLS®
- 40832202
- Days on Market
- 112
- Status
- ACTIVE
- Type
- Multifamily
- Subtype
- Multi-family
- Bedrooms
- 5
- Bathrooms
- 3
- Living Area
- 2,125
- Lot Size Dimensions
- 0.04
- Lot Size
- 1,742
- Subdivision
- 200 - Gibson/Stipley
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:5764)
/u.realgeeks.media/vermarobins/header.png)
Additional Information
- Ownership
- Freehold
- Subdivision
- 200 - Gibson/Stipley
- Parking Spaces
- 3
- Cooling
- Central air conditioning
- Country
- Canada
- Sewer
- Municipal sewage system
- Community Features
- School Bus, Community Centre
- Heating
- Forced air, Natural gas
- Total Number Of Units
- 3
- Stories
- 2.5
- Lot Size
- 1,742
