518 CANNON Street E

About this home

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:66966)

Details

Type

Triplex

Size

2125 sq ft

Basement

Unfinished, Full

Property tax

$2,763

Neighbourhood

Gibson/Stipley

Municipality

Hamilton

Interior

Fireplace

No

Heating, cooling and services

Heating

Forced air, Natural gas

Air conditioning

Central air conditioning

Water and sewer

Municipal sewage system

Building and exterior

Outdoor

Vinyl siding

Parking

Total parking

3

Driveway and parking

Open

Location

Location is approximate. See nearby homes on the map