7 Bedroom
5 Bathroom
3,256 ft2
Central Air Conditioning
Forced Air
$1,199,000
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:50976)
Property Details
|
MLS® Number
|
40862614 |
|
Property Type
|
Multi-family |
|
Amenities Near By
|
Hospital, Place Of Worship, Public Transit, Schools, Shopping |
|
Equipment Type
|
Water Heater |
|
Parking Space Total
|
4 |
|
Rental Equipment Type
|
Water Heater |
Building
|
Bathroom Total
|
5 |
|
Bedrooms Total
|
7 |
|
Basement Type
|
None |
|
Cooling Type
|
Central Air Conditioning |
|
Exterior Finish
|
Brick |
|
Heating Fuel
|
Natural Gas |
|
Heating Type
|
Forced Air |
|
Stories Total
|
2 |
|
Size Interior
|
3,256 Ft2 |
|
Type
|
Fourplex |
|
Utility Water
|
Municipal Water |
Parking
Land
|
Acreage
|
No |
|
Land Amenities
|
Hospital, Place Of Worship, Public Transit, Schools, Shopping |
|
Sewer
|
Municipal Sewage System |
|
Size Depth
|
95 Ft |
|
Size Frontage
|
39 Ft |
|
Size Total Text
|
Under 1/2 Acre |
|
Zoning Description
|
De-3 |
https://www.realtor.ca/real-estate/30291227/188-190-caroline-street-s-hamilton
