Salehian.com 647-325-5000

518 Cannon Street E

Gibson, Hamilton, L8L 2E8

$549,000

Reduced $50,000 from $599,000

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  • 5 bedrooms
  • 3 bathrooms
  • 3 parking
  • 2000-2500 sq ft

Listed 151 days ago · MLS® X13156508

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.

Details

Type
Triplex
Style
2 1/2 Storey
Size
2000-2500 sq ft
Lot
25 × 100 ft
Basement
Full
Garage
None
Kitchens
3
Property tax
$2,763 (2025)
Neighbourhood
Gibson
Municipality
Hamilton

Interior

Bedrooms
5 above ground
Bathrooms
1 × 4-piece (main), 1 × 3-piece (second), 1 × 3-piece (third)
Rooms
12 above ground
Family room or den
No
Fireplace
No

Heating, cooling and services

Heating
Forced Air, Gas
Air conditioning
Central Air
Water and sewer
Sewer

Building and exterior

Style
2 1/2 Storey
Exterior
Vinyl Siding
Roof
Asphalt Shingle
Foundation
Poured Concrete
Faces
North

Parking

Total parking
3

Lot

Size
25 × 100 ft

More

Possession
Flexible
Nearby
Library, Park, Place Of Worship, Public Transit, Rec./Commun.Centre, School
Cross street
Greenaway Ave

Location

Location is approximate. See nearby homes on the map

Recent sales nearby

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The neighbourhood

Getting around Very walkable

  • 🚆 Hamilton GO Centre2.1 km

Within a 10-minute walk: 6 grocery stores, 21 cafés and restaurants, 8 parks, 7 pharmacies. Nearest grocery: Mama Africa Tropical Foods & Hair Products (450 m). Nearest park: Stirton Tot-Lot (200 m).

Schools nearby

Elementary

  • Cathy Wever Elementary Public School
    EQAO: Gr 6 reading 72%, math 23%    5 min walk
  • St. Ann Catholic Elementary School Catholic
    EQAO: Gr 6 reading 88%, math 52%    10 min walk
  • Prince of Wales Elementary Public School
    EQAO: Gr 6 reading 79%, math 49%    16 min walk
  • St. Patrick's Elementary School Catholic
    EQAO: Gr 6 reading 69%, math 41%    16 min walk

Secondary

  • Cathedral High School Catholic
    EQAO: Gr 9 math 43%, literacy test 64%    6 min walk
  • St. Charles Adult & Continuing Education Centre - Downtown East Campus Catholic15 min walk
  • Bernie Custis Secondary School
    EQAO: Gr 9 math 36%, literacy test 65%    18 min walk

EQAO: share of students meeting the provincial standard (2024–25). Ontario average: Gr 6 reading 86%, math 51%; Gr 9 math 55%; literacy test 83%.

Closest schools, not school zones. Check which school serves this address with the school board before relying on it.

Who lives here postal area L8L

Owners / renters
52% / 48%
Median household income
$65,000
Average age
38
Children under 15
17%
Homes
50% detached, 11% high-rise
Commute by transit
14%
Population
32,312

Languages spoken most at home besides English: Portuguese 2.7%, Arabic 1.5%, Vietnamese 1.4%, Spanish 1.2%.

Flood and conservation No mapped hazard

Not inside a mapped flood plain or regulated area in Niagara Peninsula Conservation’s mapping.

Screening maps only. Ask the conservation authority for a property inquiry before relying on this.

Safety

Crime Severity Index for Hamilton police: 62 vs 57 for Ontario (2025).

Police-reported figures for the whole police service area, not this street. Rates use the area’s resident population.

Distances are approximate. Places © OpenStreetMap contributors. Neighbourhood figures: Statistics Canada, 2021 Census. School results: EQAO via Ontario Data Catalogue (Open Government Licence – Ontario). Flood and regulation mapping: Niagara Peninsula Conservation open data. Crime Severity Index: Statistics Canada.

Living here

Commute

To downtown Hamilton: 2 km. Transit times · Driving times

Noise Nothing major nearby

No highway within 500 m, rail line within 300 m, or airport flight path nearby.

Distances from the map, not noise measurements. Visit at rush hour to judge for yourself.

Internet High-speed

50/10 Mbps or faster available here by cable, fibre or DSL (the federal high-speed target).

From the federal broadband map. Check exact speeds and providers for the address.

Short-term rentals

Only in your principal residence, with a City business licence (since December 2023).

City rules

Roads, rail, airports and planned stations © OpenStreetMap contributors. Internet: Innovation, Science and Economic Development Canada, National Broadband Data.

Listed by REAL BROKER ONTARIO LTD..

Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.

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