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188-190 Caroline Street S

Durand, Hamilton, L8P 3L2

$1,099,000

Reduced $100,000 from $1,199,000

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  • 7 bedrooms
  • 5 bathrooms
  • 4 parking
  • 3000-3500 sq ft

Listed 25 days ago · MLS® X13828766

About this home

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.

Details

Type
Fourplex
Style
2-Storey
Age
100+ years
Size
3000-3500 sq ft
Lot
39 × 95 ft
Basement
None
Garage
None
Kitchens
4
Property tax
$7,785 (2025)
Neighbourhood
Durand
Municipality
Hamilton

Interior

Bedrooms
7 above ground
Bathrooms
1 × 2-piece (main), 1 × 4-piece (main), 2 × 4-piece (second), 1 × 3-piece (second)
Rooms
12 above ground
Family room or den
No
Fireplace
No

Heating, cooling and services

Heating
Forced Air, Gas
Air conditioning
Central Air
Water and sewer
Sewer

Building and exterior

Style
2-Storey
Exterior
Brick
Roof
Asphalt Shingle
Foundation
Poured Concrete, Stone
Age
100+
Faces
West

Parking

Total parking
4

Lot

Size
39 × 95 ft

More

Possession
Flexible
Nearby
Hospital, Library, Public Transit, Place Of Worship
Cross street
Duke St

History of this address

6 earlier listings at this address, with sold and leased prices. Create a free account or sign in to see them.

Living here

Short-term rentals

Only in your principal residence, with a City business licence (since December 2023).

City rules

Listed by REAL BROKER ONTARIO LTD..

Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.

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