188-190 Caroline Street S, Hamilton, ON L8P 3L2
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188-190 Caroline Street S, Hamilton, ON L8P 3L2
188-190 Caroline Street S, Hamilton, ON L8P 3L2
188-190 Caroline Street S, Hamilton, ON L8P 3L2
188-190 Caroline Street S, Hamilton, ON L8P 3L2
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Domenica Carelli

Domenica Carelli

+1(647) 214-2994
Listed by Sandy Mackay • Real Broker Ontario Ltd.
$ 1,199,000
Est. payment /mo
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188-190 Caroline Street S Hamilton, ON L8P 3L2

7 Beds

5 Baths

3,256 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-4 Unit

Listing Status Active

Purchase Type For Sale

Square Footage 3,256 sqft

Price per Sqft $368

MLS Listing ID 40862614

Bedrooms 7

Abv Grd Liv Area 3,256

Annual Tax Amount $7,785

Property Sub-Type Multi-4 Unit

Source Cornerstone

Property Description

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.

Location

Province ON

County Hamilton

Area 12 - Hamilton West

Zoning DE-3

Direction From Herkimer/Queen, E on Herkimer, N on Caroline

Rooms

Basement None

Kitchen 0

Interior

Interior Features None

Heating Forced Air, Natural Gas

Cooling Central Air

Fireplace No

Appliance Dishwasher, Dryer, Refrigerator, Stove, Washer

Laundry In-Suite

Exterior

Roof Type Asphalt Shing

Lot Frontage 39.0

Lot Depth 95.0

Garage No

Building

Lot Description City Lot, Hospital, Library, Place of Worship, Public Parking, Public Transit, Schools, Shopping Nearby

Faces From Herkimer/Queen, E on Herkimer, N on Caroline

Story 2

Sewer Sewer (Municipal)

Water Municipal

Level or Stories 2

Structure Type Brick

New Construction No

Others

Senior Community No

Tax ID 171360192

Ownership Freehold/None

Virtual Tour https://dl.dropboxusercontent.com/scl/fi/9s7ye026f1re6nz9ed4ft/189-Caroline-St-S-Video.mp4?rlkey=0iqu23wh2947zr2zjzgdstojm&raw=1

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Domenica Carelli

Domenica Carelli

Agent

+1(647) 214-2994

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188-190 Caroline Street S