$3,500,000 - 16 Cannon Street, Hamilton
Detached for Sale in Hamilton
Neighbourhood: Beasley
- MLS Number
- X13432900
- Property Type
- Detached
- Status
- active
- Days on Site
- 22
- Bedrooms
- 0
- Bathrooms
- 0
- Square Feet
- 700 - 1,099 sqft
- Neighbourhood
- Hamilton
- Listing Brokerage
- AVISON YOUNG COMMERCIAL REAL ESTATE SERVICES, LP
16 Cannon Street East represents a premier high-density redevelopment site in the heart of downtown Hamilton. The site is conditionally approved for a 16-storey, 130-unit residential tower totaling 89,066 SF of GFA. It is ideally situated within walking distance of West Harbour GO, Hamilton GO Centre, and the upcoming LRT stop, offering unmatched transit connectivity. The current use is a legally nonconforming 8-unit apartment building. The vendor makes no representations and warranties. Sold "as is, where is. Potential 132,000 SF High-Density Development Opportunity in Downtown Hamilton. A new owner has the ability to take the site back to the Committee of Adjustment and apply for additional height, unlocking up to 132,000 SF of total Gross Floor Area (GFA). This aligns with Downtown Hamilton's high-rise intensification policies that support up to 30 storeys. The opportunity allows for significant added density at a competitive land cost of approximately $35 per buildable square foot.
Estimate your monthly payments for this property
Estimated Payment
$15,481.68/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Beasley
Beasley is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Beasley
- •Convenient location in Hamilton
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Beasley offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
16 Cannon Street, Hamilton
Open in Google MapsUse the map controls to zoom, pan, and switch between map and satellite views. Drag to explore the neighbourhood.
Rental income estimator & ROI calculator
Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Premium Pricing
At $5000/sqft, this property is priced above the Hamilton average of $950/sqft. I'd want to see upgraded finishes, premium location, or recent renovations to justify this price point. During our showing, I'll point out exactly what you're paying extra for.
Market Position
At 22 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
Detached Home Advantages
Detached homes in Hamilton are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Efficient Living
At 700 sqft, this is a more compact space. The upside: lower utility bills, less maintenance, and easier cleaning. Consider how you'll use the space - built-in storage, multi-functional furniture, and good organization become important. Great for singles, couples, or those who prefer a low-maintenance lifestyle.
About Beasley
I know Beasley well from working with many buyers and sellers here. Each pocket has its own character - let me share what I've learned about this specific street and block. During our showing, I'll point out local amenities, school catchments, and what similar homes have sold for recently.
Investment Perspective
Looking at this as an investment: Hamilton properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $14,583 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.