For Sale: 518 Cannon Street E, Hamilton, ON - REW
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$599,000
5 bd • 3 ba • 2125 sf • Multifamily
518 Cannon Street E
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$599,000
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518 Cannon Street EHamilton, ON, L8L 2E8

Gibson
  • 5 Bed
  • 3 Bath
  • 2125 Sqft
  • Multifamily

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.
Listed by: Sandy Mackay, Real Broker Ontario Ltd.

Home facts and features

Price details
List Price
$599,000
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Gross Taxes for 2026
$2,763
Home facts
Bedrooms
5
Full Bathrooms
3
Parking Spaces
3
Property Type
Multifamily
Lot Size
25 ft x 100 ft (2500 ft²)
Depth
100.0
Frontage
25.0
Heating Type
Forced Air,Natural Gas
Cooling
Central Air
Basement Details
Full,Unfinished
Features
Shared, Smoke Detector
Community
Agent details
Primary Agent
Primary Broker
Real Broker Ontario Ltd.
Listing details
Days on REW
14 Days
MLS® Number
40832202
Source
Information Technology Systems Ontario
Board
Cornerstone Association of REALTORS®
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Amortization
25 Years
Interest Rate
3.99%

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Property Insights

Cathy Wever Elementary Public School
  • Public
  • JK - 8
Cathedral High School
  • Catholic
  • 9 - 12
St. Brigid Catholic Elementary School
  • Catholic
  • JK - 8
St. Ann (Hamilton) Catholic Elementary School
  • Catholic
  • JK - 8
St. Patrick Catholic Elementary School
  • Catholic
  • JK - 8
Prince of Wales Elementary Public School
  • Public
  • JK - 8
Adelaide Hoodless Public School
  • Public
  • JK - 8
Living Hope Christian School
  • Private
  • 9 - 12
Dr. J. Edgar Davey Elementary Public School
  • Public
  • JK - 8
Sacred Heart of Jesus Catholic Elementary School
  • Catholic
  • JK - 8
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Sandy Mackay
Phone:
(905) 308-8333
Office:
888-311-1172
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By proceeding, you consent to receive communications using the methods provided, from REW.ca and our partners about your inquiry and other home-related matters to assist you in your search, but not as a condition of any purchase.