585 Cannon Street E

Nestled in the vibrant community of Gibson, 585 Cannon Street E, Hamilton, presents a fantastic opportunity for those seeking a lucrative investment. This Multi-Family Home for sale in Hamilton boasts an impressive layout with six units, making it an ideal choice for savvy investors or those looking to accommodate multiple families under one roof. The property is strategically located at the intersection of Cannon Street and Chestnut Avenue, providing easy access to local amenities and transport links.

As you approach the property, you’ll notice the classic brick exterior, which not only adds to the charm but also ensures durability. The building type is a multiplex, designed to house multiple families comfortably. With a total of 14 rooms, including seven spacious bedrooms and six bathrooms, this Multi-Family Home for sale in Hamilton is well-equipped to cater to a variety of living arrangements. Each unit is designed with functionality in mind, ensuring that residents enjoy a comfortable and practical living environment.

Inside, the property features six kitchens, allowing for a seamless cooking experience for each unit. While there is no additional kitchen or family room, the layout has been thoughtfully designed to maximise space and usability. The absence of a den and family room is balanced by the generous number of bedrooms and bathrooms, making it an excellent choice for families or groups of tenants.

The property is unfurnished, providing a blank canvas for potential buyers to personalise each unit according to their taste. With a window unit air conditioning system in place, residents can stay cool during the warmer months, ensuring comfort throughout the year. The heating is provided by a forced air system, which is efficient and reliable.

One of the standout features of this Multi-Family Home for sale in Hamilton is the separate entrance to the basement apartment, which adds an extra layer of privacy and independence for tenants. This space can be utilised as an additional rental unit, increasing the potential for income. The property does not include a pool or fireplace, but the focus on practical living spaces ensures that it meets the needs of its residents without unnecessary frills.

The property sits on a modest lot measuring 16 by 60 feet, providing ample space for the building while maintaining a manageable outdoor area. There is no garage or driveway, and parking is limited, which is something to consider for prospective buyers. However, the location in Hamilton offers various parking options nearby, making it convenient for tenants.

With a gross income of over £50,000 per year, this investment property is not only a sound financial choice but also comes with a good tenant profile and stable rent income. The electrical system has been upgraded to 200 amps, ensuring that all units are equipped to handle modern living demands. The property is connected to municipal water and sewer services, adding to the convenience of living in this Multi-Family Home for sale in Hamilton.

In summary, 585 Cannon Street E, Hamilton, is a remarkable opportunity for investors looking to expand their portfolio or for families seeking a spacious living arrangement. With its impressive features and prime location, this Multi-Family Home for sale in Hamilton is a must-see. Whether you’re looking to generate rental income or create a shared living space, this property has the potential to meet your needs. Don’t miss out on the chance to explore what this fantastic property has to offer!

Gibson is a charming neighbourhood nestled within the vibrant city of Hamilton, Ontario, offering a delightful blend of urban convenience and suburban tranquillity. Characterised by its tree-lined streets and a mix of residential styles, from quaint bungalows to modern townhouses, Gibson boasts a welcoming atmosphere that appeals to families, young professionals, and retirees alike. The area is well-served by local amenities, including parks, schools, and shops, while its proximity to downtown Hamilton ensures easy access to a wider array of cultural attractions and services. With a strong sense of community spirit and a diverse population, Gibson is an inviting place to call home, where residents can enjoy a balanced lifestyle amidst the hustle and bustle of city life.

Schools in the Neighbourhood

This property is ideally located near several educational institutions, providing a range of options for families. Within a short distance, you'll find Prince of Wales Elementary School (0.6 km) and St. Ann (Hamilton) CES (0.3 km), both offering English language instruction for grades JK to 8, with St. Ann boasting a commendable school rating of 4.6. For secondary education, Bernie Custis Secondary School (0.8 km) and Cathedral CSS (0.7 km) cater to grades 9 to 12, with ratings of 1.9 and 3.1, respectively. Additionally, Bennetto Elementary School (2.4 km) and A.M. Cunningham Elementary School (2.7 km) provide French language options for younger students, although A.M. Cunningham has a notably low rating of 0. W.H. Ballard Elementary School (3.2 km) and Sherwood Secondary School (3.1 km) also offer French programs, with Sherwood receiving a higher rating of 6.9. Overall, this area features a mix of public and Catholic schools, ensuring that families have access to diverse educational choices within a convenient distance from the property.