188-190 CAROLINE Street S (40862614)

Listing ID: 40862614

$1,099,000

Real Broker Ontario Ltd.

**188-190 CAROLINE Street S, Hamilton, Ontario, L8P3L2**
Bathrooms5	Bedrooms7
Property TypeMulti-family	Building Area3256 sqft

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:33575)

**Details**
GarageNo	CarportNo
Attached GarageNo	Open ParkingYes
Parking Total4	WaterfrontNo
Frontage Length39 ft	ViewNo

**Building**
Cooling TypeCentral air conditioning	CoolingYes
HeatingForced air	Heating FuelNatural gas
Levels2	Number Of Units Total4
PoolNo	SewerMunicipal sewage system
Stories2