188-190 CAROLINE Street S
Hamilton, Ontario
MLS® 40862614
$1,199,000
- Status
- Active
- Property type
- Multi-family
- MLS® number
- 40862614
- Bedrooms
- 7
- Bathrooms
- 5
- Year built
- —
1 / 33Listing 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.
Property summary
- MLS® number
- 40862614
- Property type
- Multi-family
- Building type
- Fourplex
- Square footage
- 3,256 sq ft
- Title
- Freehold
- Annual property taxes
- $7,785.13
- Parking
- 4 spaces · Open
- Days on market
- 3 days
Features & details
- Heating
- Forced air, Natural gas
- Cooling
- Central air conditioning
- Basement
- None
- Exterior features
- Brick
What would this home cost you?
Based on the $1,199,000 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of Real Broker Ontario Ltd., Burlington.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.