16 Cannon Street, Hamilton, ON
Property Highlights
Welcome to this remarkable 2-Storey multiplex located in the coveted neighborhood of Beasley. Expertly crafted featuring premium aluminum siding construction, this residence presents an exceptional opportunity offered at $3,500,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 0 Bedrooms and 0 Bathrooms
- Generous living space spanning < 700 sqft on a premium 114 x 110 ft lot
- Features a other basement, adding superb versatility for recreation, a home gym, or extra storage
- 8.0 total parking spaces available
- Notable attributes: Other
- equipped with other central cooling and highly efficient other heating via other
Description
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.
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Pricing & Value Insights
Data-driven valuation for 16 Cannon Street E, Hamilton, ON L8L 1Z5
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About Purchasing a Home in Hamilton, ON
For a property listed at $3,500,000 in Hamilton, the legal minimum down payment is $700,000 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $73,975 for this transaction. As this listing is in Hamilton (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $73,975.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.