188-190 Caroline ST S, Hamilton, ON L8P 3L2
188-190 Caroline ST S, Hamilton, ON L8P 3L2
188-190 Caroline ST S, Hamilton, ON L8P 3L2
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Jenny Lam

Jenny Lam

+1(647) 931-9788
$1,199,000
Est. payment /mo
7 Beds
5 Baths
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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

Rooms

Family Room No

Basement None

Kitchen 4

Interior

Interior Features None

Cooling Central Air

Fireplace No

Heat Source Gas

Exterior

Pool None

Roof Type Asphalt Shingle

Lot Frontage 39.0

Lot Depth 95.0

Total Parking Spaces 4

Building

Building Age 100+

Unit Features Hospital,Library,Public Transit,Place Of Worship

Foundation Poured Concrete, Stone

Others

ParcelsYN No

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Jenny Lam

Jenny Lam

+1(647) 931-9788

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