188-190 Caroline Street S,Hamilton, ON L8P 3L2
Hamilton, ON L8P 3L2
Description
6.8% 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.
Details
| MLS # | 40862614 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 47 |
| Listing Provided By | Real Broker Ontario Ltd. | Sandy Mackay |
Features
| Bed(s) | 7 |
|---|---|
| Bath(s) | 5 |
| SQ Feet | 3,256 |
| Story(s) | 2 |
| Units | 4 |
| Zoning | DE-3 |
| Acreage | 0.09 |
Interior
| Appliances | Dishwasher, Dryer, Refrigerator, Stove, Washer |
|---|---|
| Interior Features | None |
| Cooling | Central Air |
| Cooling Yes / No | No |
| Heating | Forced Air, Natural Gas |
| Heating Yes / No | Yes |
| Laundry Features | In-Suite |
Exterior
| Lot Features | City Lot, Hospital, Library, Place of Worship, Public Parking, Public Transit, Schools, Shopping Nearby |
|---|---|
| Construction Materials | Brick |
| Roof | Asphalt Shing |
Parking
| Open Parking Yes / No | Yes |
|---|
Utilities
| Sewer | Sewer (Municipal) |
|---|
Taxes
| Tax Annual Amount | 7785.13 |
|---|
Area Information
| Province | ON |
|---|---|
| County | Hamilton |
| City | Hamilton |
| Postal Code | L8P 3L2 |
| Area | 12 Hamilton West |
| Subarea | 122 Durand North |
| Community Name | 122 Durand North |
| Listing VS Median (in 122 Durand North) | |
Price: $1,099,000 low | high Med: $199,900 sqft: 3,256 low | high Med: 770 $ / sqft: $338 low | high Med: $260 On site: 47 low | high Med: 89 | |
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Learn More About This Property
| Province | ON |
|---|---|
| County | Hamilton |
| City | Hamilton |
| Postal Code | L8P 3L2 |
| Area | 12 Hamilton West |
| Subarea | 122 Durand North |
| Community Name | 122 Durand North |
| Listing VS Median (in 122 Durand North) | |
Price: $1,099,000 low | high Med: $199,900 sqft: 3,256 low | high Med: 770 $ / sqft: $338 low | high Med: $260 On site: 47 low | high Med: 89 | |
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