188 CAROLINE Street South, Hamilton, Ontario L8P3L2
Listing courtesy of Real Broker Ontario Ltd..
- $1,199,000
- 7
- BD
- 5
- BA
- 3,256
- SqFt
- List Price
- $1,199,000
- MLS®
- 40862614
- Days on Market
- 1
- Status
- ACTIVE
- Type
- Multifamily
- Subtype
- Multi-family
- Bedrooms
- 7
- Bathrooms
- 5
- Living Area
- 3,256
- Subdivision
- 122 - Durand North
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. (id:5764)
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Additional Information
- Ownership
- Freehold
- Subdivision
- 122 - Durand North
- Parking Spaces
- 4
- Cooling
- Central air conditioning
- Country
- Canada
- Sewer
- Municipal sewage system
- Heating
- Forced air, Natural gas
- Total Number Of Units
- 4
- Stories
- 2
