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:4069)
Address
188-190 CAROLINE Street S
List Price
$1,199,000
Property Type
Multi-family
Type of Dwelling
Fourplex
Transaction Type
Sale
Area
Ontario
Sub-Area
Hamilton
Bedrooms
7
Bathrooms
5
Floor Area
3,256 Sq. Ft.
Lot Depth
95 ft
Frontage Length
39 ft
MLS® Number
40862614
Listing Brokerage
Real Broker Ontario Ltd.
Basement Area
None
Postal Code
L8P3L2
Zoning
DE-3
Ownership
Freehold
Parking Places (Total)
4
Site Influences
Hospital, Place of Worship, Public Transit, Schools, Shopping
Heat Source
Natural gas
Heat Type
Forced air
Cooling Features
Central air conditioning
Number Of Floors In Building
2
Water Source
Municipal water
Sewer
Municipal sewage system
