518 Cannon Street E Hamilton, Ontario L8L 2E8
$599,000
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:61015)
Property Details
| MLS® Number | 40832202 |
| Property Type | Multi-family |
| Amenities Near By | Park, Place Of Worship, Playground, Public Transit, Schools, Shopping |
| Community Features | Community Centre, School Bus |
| Equipment Type | Water Heater |
| Parking Space Total | 3 |
| Rental Equipment Type | Water Heater |
Building
| Bathroom Total | 3 |
| Bedrooms Total | 5 |
| Basement Development | Unfinished |
| Basement Type | Full (unfinished) |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Vinyl Siding |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 3 |
| Size Interior | 2,125 Sqft |
| Type | Triplex |
| Utility Water | Municipal Water |
Parking
| Open |
Land
| Acreage | No |
| Land Amenities | Park, Place Of Worship, Playground, Public Transit, Schools, Shopping |
| Sewer | Municipal Sewage System |
| Size Depth | 100 Ft |
| Size Frontage | 25 Ft |
| Size Irregular | 0.04 |
| Size Total | 0.04 Ac|under 1/2 Acre |
| Size Total Text | 0.04 Ac|under 1/2 Acre |
| Zoning Description | D |
https://www.realtor.ca/real-estate/29784643/518-cannon-street-e-hamilton
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May 21 2026 05:31:50
REALTORS® Association of Hamilton-Burlington
Real Broker Ontario Ltd.