188-190 Caroline Street S, Hamilton, ON L8P 3L2

About this property

6.5% 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 $75,189 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 car 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.

Property facts & features

Property type

Fourplex

MLS® number

X13828766

Source status

Price Change

Bedrooms

7

Bathrooms

5

Reported interior area

Not provided

Neighbourhood

Not provided

Postal code

L8P 3L2

Parking spaces

4

Garage

None

Lot depth (source units)

95

Annual property tax

7785.13

Basement

None

Laundry

Not provided

Interior features

None

Exterior features

Not provided

Values and units are reported by the listing source. Verify measurements and fees with the brokerage.

Floor plans & room measurements

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Property value & listing history

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Location & neighbourhood

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