518 CANNON STREET E, Hamilton (Gibson)
$549,000
For sale: Multiplex
- Property type
- Triplex
- Bedrooms / bathrooms
- 5 bedrooms, 3 bathrooms
- Living area
- 2,500 sqft
- MLS®
- MLS® X13156508
- Neighbourhood
- Gibson
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.
Sold data
Multiplex homes in Hamilton (Gibson) — recent sold market
Multiplex homes in Hamilton (Gibson) took a median of 42 days to sell over the last 365 days, with the quickest quarter selling within 20 days and the slowest quarter taking more than 67, across 87 recorded sales.
That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 114 days.
The median sale price was $769,900.
Homes sold for about 3.4% below asking on average, so there was room to negotiate.
About 8% of sales closed above the list price.
Around 24% of sellers reduced their price before finding a buyer.
- Median days to sell
- 42
- Median sale price
- $769,900
- Sale-to-list ratio
- 96.6%
- Sold above asking
- 8%
Based on 87 recorded sales in the last 1 year — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.
Schools
Schools in Hamilton (Gibson)
Hamilton (Gibson) has 130 Fraser Institute–rated schools (108 elementary and 22 secondary), averaging 5.6/10.
- Rated schools
- 130
- Elementary
- 108
- Secondary
- 22
- Average rating
- 5.6 / 10
Top-rated schools in Hamilton (Gibson)
- Corpus Christi — elementary, HamiltonFraser rating 10.0/10
- Norwood Park — elementary, HamiltonFraser rating 8.4/10
- Pope John Paul II — elementary, HamiltonFraser rating 8.0/10
- Our Lady of Lourdes — elementary, HamiltonFraser rating 7.3/10
- Westmount — secondary, HamiltonFraser rating 7.3/10
- Sacred Heart — elementary, HamiltonFraser rating 7.2/10
School ratings from the Fraser Institute's Ontario school report cards.
Currently for sale
Homes for sale near 518 CANNON STREET E
$550,000
Multiplex531,500–2,000 sqft98 ST ARNAUD STREET, 875 - Killaly East, Port Colborne
$479,900
Multiplex532,000–2,500 sqft17 FAIRLEIGH AVENUE S, Gibson, Hamilton
$445,000
Multiplex421,100–1,500 sqft29 GERTRUDE STREET, Industrial Sector, Hamilton
$595,000
Multiplex441,500–2,000 sqft127 EAST AVENUE S, Stinson, Hamilton
$479,900
Detached431,500–2,000 sqft37 GLADSTONE AVENUE, St. Clair, Hamilton
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Townhouse4+131,200–1,399 sqft31 - 2050 UPPER MIDDLE ROAD, Brant Hills, Burlington
$549,999
Detached531,100–1,500 sqft36 BRIGHTON AVENUE, 445 - Facer, St. Catharines
$519,999
Townhouse4+13700–1,100 sqft188 HESS STREET N, Strathcona, Hamilton