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$ 1,199,000
Est. payment /mo
New
188-190 Caroline ST S Hamilton, ON L8P 3L2
7 Beds
5 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3000-3500
Subdivision Durand
MLS Listing ID X13828766
Style 2-Storey
Bedrooms 7
Annual Tax Amount $7,785
Tax Year 2025
Property Sub-Type Fourplex
Property Description
6% cap rate. $91,650 in annual rent from four leased units in Hamilton's popular Durand Neighbourhood. You get a legal 4-plex built, fully tenanted, producing $71,970 in net operating income. All four tenants pay their own hydro, so your utility exposure stays small and easy to predict. The expensive work is already behind you. Parapet walls and chimney have been re-built, and the water line has been upgraded to 3/4" copper. 4 card parking sits at the rear. The unit mix protects your income: one 3 bedroom, one 2 bedroom, two 1 bedrooms. Four separate tenancies means no single vacancy takes out your cash flow. Each unit has kept its own character, which is what holds good tenants in place. Walk to Locke St S, James St S, Hess Village, St. Joseph's Hospital, downtown Hamilton, transit, parks and schools. Durand is one of the tightest rental pockets in the city, on a quiet tree-lined street. Two of the four rents are under market so there's upside for the future in the numbers. Book your showing this week.
Location
Province ON
County Hamilton
Area Hamilton
Zoning DE-3
Rooms
Basement None
Kitchen 4
Interior
Interior Features None
Cooling Central Air
Exterior
Parking Features None
Pool None
Roof Type Asphalt Shingle
Total Parking Spaces 4
Building
Building Age 100+
Foundation Poured Concrete, Stone
Others
Virtual Tour https://dl.dropboxusercontent.com/scl/fi/9s7ye026f1re6nz9ed4ft/189-Caroline-St-S-Video.mp4?rlkey=0iqu23wh2947zr2zjzgdstojm&raw=1
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