518 CANNON STREET E, Hamilton (Gibson)

$549,000

For sale: Multiplex

Multiplex at 518 CANNON STREET E, Hamilton (Gibson)
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

Homes in Gibson — recent sold market

Homes in Gibson took a median of 23 days to sell over the last 365 days, with the quickest quarter selling within 14 days and the slowest quarter taking more than 42, across 44 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 Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 54 days.

The median sale price was $481,000.

Homes sold for about 2.9% below asking on average, so there was room to negotiate.

About 16% of sales closed above the list price.

Around 25% of sellers reduced their price before finding a buyer.

Median days to sell
23
Median sale price
$481,000
Sale-to-list ratio
97.1%
Sold above asking
16%

Based on 44 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