188-190 Caroline Street S Hamilton, Ontario L8P 3L2
$1,149,000
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. (id:61499)
Property Details
| MLS® Number | 40862614 |
| Property Type | Multi-family |
| AmenitiesNearBy | Hospital, Place Of Worship, Public Transit, Schools, Shopping |
| EquipmentType | Water Heater |
| ParkingSpaceTotal | 4 |
| RentalEquipmentType | Water Heater |
Building
| BathroomTotal | 5 |
| BedroomsTotal | 7 |
| BasementType | None |
| CoolingType | Central Air Conditioning |
| ExteriorFinish | Brick |
| HeatingFuel | Natural Gas |
| HeatingType | Forced Air |
| StoriesTotal | 2 |
| SizeInterior | 3256 Sqft |
| Type | Fourplex |
| UtilityWater | Municipal Water |
Parking
| Open |
Land
| Acreage | No |
| LandAmenities | Hospital, Place Of Worship, Public Transit, Schools, Shopping |
| Sewer | Municipal Sewage System |
| SizeDepth | 95 Ft |
| SizeFrontage | 39 Ft |
| SizeTotalText | Under 1/2 Acre |
| ZoningDescription | De-3 |
https://www.realtor.ca/real-estate/30291227/188-190-caroline-street-s-hamilton
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Sandy Mackay
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4145 North Service Rd. 2nd Flr
Burlington, Ontario L7L 6A3
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October 02 2026 06:43:15
Real Broker Ontario Ltd.