$ 730.000

487 Cannon Street E, Hamilton

18 Photos

487 Cannon Street E, Hamilton, ON L8L2E5 Photo 2

487 Cannon Street E, Hamilton, ON L8L2E5 Photo 3

487 Cannon Street E, Hamilton, ON L8L2E5 Photo 4

487 Cannon Street E, Hamilton, ON L8L2E5 Photo 5

487 Cannon Street E, Hamilton, ON L8L2E5 Photo 6

487 Cannon Street E, Hamilton, ON L8L2E5 Photo 7

Bedrooms: 5
Bathrooms: 4
Living area: 2050 square feet
MLS®: h4190995

Type: Multifamily
Added: 7 days ago
Type: Multifamily
Listed by: Point2

Property Details

Welcome to this meticulously maintained 4-unit property offering exceptional investment potential. With gross rental income of\r\nover $51k/year, income has increased while expenses have been reduced from the previous years. Each unit boasts comfortable living with 3 - 1 bedroom apartments and 1-2bedroom unit. Enjoy this turn-key and hassle-free investment with great tenants that are currently paying market rents providing a cash flow positive investment. Many recent updates including a new roof and fence in 2018, interior waterproofing, new concrete walkway, many windows replaced/repaired, plumbing updates, some new doors, tree trimming etc. Please see attachments for a complete list of recent updates. With extensive maintenance completed and tenants in good standing, this property offers a turnkey investment opportunity for savvy investors seeking long-term cashflow and appreciation. Potential upside on interior cosmetic updates. Financials attached. Offers welcome any time!

Best Mortgage Rates

Features

Other: Exclusions: Tenant belongings, Foundation: Concrete Block, Laundry Access: Shared, Leases
Heating: Gas, Forced Air
Lot Features: Urban
Extra Features: Area Features: Hospital, Park, Place of Worship, Public Transit, Rec./Commun.Centre, Schools
Sewer/Water Systems: Sewers: Sewer

Nearby Places

Name	Type	Address	Distance
Barton Street Arena	Originally, the arena had a seating capacity of 4,...		0.2 km
Cathedral High School	School	30 Wentworth St N	0.3 km
Cathedral High School (Hamilton, Ontario)	Classes were held in two rooms at St...		0.3 km
Hamilton General Hospital	Hospital	237 Barton St E	1.0 km
270 Sherman	The five buildings which together constitute 270 S...		1.0 km
Hamilton General Hospital	HGH is the busiest cardiac surgery hospital in Can...		1.0 km
King William Street (Hamilton, Ontario)	It is named after King William IV of the United Ki...		1.1 km
St. Peter's Hospital (Hamilton)	The hospital became a part of Hamilton Health Scie...		1.2 km
Wellington Street (Hamilton, Ontario)	It then starts up again north of the park on Young...		1.3 km
Ivor Wynne Stadium	The club's previous home was the Hamilton Amateur ...		1.3 km
Tim Hortons Field	During the Pan American Games, it was referred to ...		1.3 km
Victoria Avenue (Hamilton, Ontario)	It's also a one-way thoroughfare that flows north ...		1.3 km

Similar Multifamilys Stat in Hamilton

We have found 6 Multifamily that closely match the specifications of the property located at 487 Cannon Street E with distances ranging from 2 to 10 kilometers away. The prices for these similar properties vary between 579,000 and 949,900, providing a good range for comparison. Moreover, we have also discovered that there are a few open Multifamily in the L8L2E5 postal code area of Hamilton Ontario Canada.

487 Cannon Street E mortgage payment

Based on the given information, we can estimate the monthly mortgage payment for someone interested in purchasing the property located at 487 Cannon Street E. The current price of the property is $730,000, and the mortgage rate being used for the calculation is 4.44%, which is a competitive rate offered by Ratehub.ca. Assuming a conventional mortgage with a 20% down payment, the total amount borrowed would be $584,000. This would result in a monthly mortgage payment of $3,414 over a 25-year amortization period.

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