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188-190 CAROLINE STREET S, Hamilton (Durand) — listed at $1,099,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
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:60164)
How is the space laid out across floors?+
This is a 2-storey multi-family. The 7 bedrooms and 5 bathrooms are typically split with living areas on the main floor and bedrooms above — confirm the exact layout during a showing.
How is the home heated? Is it efficient?+
Heating is forced air, natural gas. Gas heating is generally the most cost-efficient option in Ontario winters.
What's the parking situation?+
This property includes 4 spaces — No Garage.
What makes this a luxury property?+
At $1,099,000, standout features include 5 bathrooms. In this price range, expect higher-end finishes — verify during a showing.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $7,785.13, heating is forced air, natural gas. Always verify the latest figures with your agent before making an offer — these change yearly.
Is 188-190 CAROLINE STREET S a good fit for a growing family?+
With 7 bedrooms and 5 bathrooms, there's room for kids plus a guest room or home office. The 2-storey layout keeps living and sleeping areas separated.
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