59 Cannon St W
Strathcona, Hamilton, L8R 2B4
FOR SALE
$999,999
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5
BEDROOMS5
BATHROOMS5
KITCHENS14
ROOMSX11920673
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Property Description
Ideal investor Opportunity in Prime West Hamilton This vacant, income-generating property offers a rare chance to own a multi-residential investment in one of Hamilton's most vibrant and sought-after neighborhoods. Featuring 5 self-contained units, each with separate entrances, this charming character home offers over 3,250 sq ft of finished living space and significant income potential. The unit breakdown includes: Main Floor: Spacious 2-bedroom unit (potential for a 3rd bedroom), kitchen, and 3-piece bath. Second Floor: 2-bedroom unit with kitchen and 4-piece bath. Two 1-Bedroom units Units: Each is a 1-bedroom unit with its own kitchen and 3-piece bath. One Additional Detached unit: This is a large bachelor unit with a 3-piece bath. The property also includes 3 separate hydro meters, 2 hot water heaters, and a new H/E boiler for efficient heating. Situated steps from James Streets diners, boutiques, and the local farmers' market, this property benefits from an unbeatable location. Tenants will love the proximity to Bayfront Park, King Williams bustling restaurants, and the convenience of amenities like a walk-in clinic, pharmacy, dentists, and local grocers all right outside the doorstep. For commuters, the property is just minutes from Highway 403, offering easy access to Toronto and surrounding areas. The area also boasts plenty of nightlife, bars, a cinema/movie theatre, and is steps away from the up-and-coming sports venue.
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Property Features
Arts Centre, Hospital, Park, Place Of Worship, Public Transit, Rec Centre
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Property Details
Street
Community
City
Property Type
Multiplex, 2 1/2 Storey
Approximate Sq.Ft.
2000-2500
Lot Size
76' x 51'
Acreage
< .50
Fronting
South
Taxes
$5,311 (2024)
Basement
Apartment, Sep Entrance
Exterior
Brick, Metal/Side
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Window Unit
Water
Municipal
Parking Spaces
3
Garage Type
None
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Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Living | Main | 12.40' x 12.40' | |
| Br | Main | 10.14' x 13.65' | |
| 2nd Br | Main | 10.83' x 14.24' | |
| Br | 2nd | 12.99' x 11.25' | |
| 2nd Br | 2nd | 16.99' x 9.25' | |
| Living | 3rd | 11.58' x 19.32' | |
| Loft | 3rd | 10.93' x 15.85' | |
| Rec | Bsmt | 16.83' x 19.26' |
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Hamilton Market Statistics
Hamilton Price Trend
59 Cannon St W is a 5-bedroom 5-bathroom home listed for sale at $999,999, which is $86,624 (9.5%) higher than the average sold price of $913,375 in the last 30 days (January 21 - February 19). During the last 30 days the average sold price for a 5 bedroom home in Hamilton declined by $831,625 (47.7%) compared to the previous 30 day period (December 22 - January 20) and down $536,701 (37.0%) from the same time one year ago.Inventory Change
There were 33 5-bedroom homes listed in Hamilton over the last 30 days (January 21 - February 19), which is up 50.0% compared with the previous 30 day period (December 22 - January 20) and up 6.5% compared with the same period last year.Sold Price Above/Below Asking ($)
5-bedroom homes in Hamilton typically sold ($22,434) (2.5%) below asking price over the last 30 days (January 21 - February 19), which represents a $94,966 increase compared to the previous 30 day period (December 22 - January 20) and ($91,146) more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 5-bedroom homes in Hamilton over the last 30 days (January 21 - February 19) stood at 24.2%, up from 9.1% over the previous 30 days (December 22 - January 20) and down from 41.9% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 5-bedroom 5-bathroom home in Hamilton stood at 18 days when successfully sold over the last 30 days (January 21 - February 19), compared to 83 days before being removed from the market upon being suspended or terminated.Listing contracted with Re/Max Escarpment Realty Inc.,
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Prime Investment Opportunity in Hamilton! This detached 2-storey solid home offers incredible value with four self-contained units - two 2-bedroom and two 1-bedroom suites - each with its own kitchen, bathroom, and separate entry. The main-level unit is the highlight, featuring two spacious bedrooms, laminate flooring, a large open kitchen with stainless steel appliances, a walk-in pantry, and pot lights, making it an ideal owner-occupied suite. Recent updates include roof shingles (2019), updated windows (2019) and a tankless hot water heater (2020). The property boasts a deep, fully fenced backyard, a 3-car front driveway, and a 1-car rear-lane private driveway, ensuring ample parking. Move-in ready and perfect for investors or buyers looking to live in one unit while generating rental income. Located in a sought-after neighbourhood on a bus route, close to schools, shopping, highway access, Hamilton GO station, hospital + more. This is a rare opportunity you wont want to miss!
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