518 Cannon Street E,Hamilton, ON L8L 2E8
Hamilton, ON L8L 2E8
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.
Details
| MLS # | X13156508 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Price Change |
| Year | 0 |
| Days On Site | 112 |
| Listing Provided By | REAL BROKER ONTARIO LTD. | X13156508 384000 |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 3 |
| Basement | Y |
| Story(s) | 2 |
| Acreage | 0.06 |
Interior
| Interior Features | None |
|---|---|
| Cooling | Central Air |
| Heat Source | Gas |
| Fireplace Yes / No | No |
Exterior
| Roof | Asphalt Shingle |
|---|---|
| Foundation Details | Poured Concrete |
| Construction Materials | Vinyl Siding |
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Sewer |
|---|
Taxes
| Tax Annual Amount | 2763 |
|---|---|
| Tax Legal Description | PT LT 8, PL 151 , AS IN VM194324 ; HAMILTON |
| Tax Year | 2025 |
Area Information
| Province | ON |
|---|---|
| Region | Hamilton |
| City | Hamilton |
| Postal Code | L8L 2E8 |
| Area | Gibson |
| Listing VS Median (in L8L 2E8) | |
Price: $549,000 low | high Med: $0 On site: 112 low | high Med: | |
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Learn More About This Property
| Province | ON |
|---|---|
| Region | Hamilton |
| City | Hamilton |
| Postal Code | L8L 2E8 |
| Area | Gibson |
| Listing VS Median (in L8L 2E8) | |
Price: $549,000 low | high Med: $0 On site: 112 low | high Med: | |
