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7
BEDROOMS 5
BATHROOMS 4
KITCHENS 12
ROOMS X13828766
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Property Description
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.
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Nearby Intersections
Property Features
Hospital, Library, Public Transit, Place Of Worship, None
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Property Details
Address
188-190 Caroline Street
Community
City
Postal Code
L8P 3L2
Property Type
Fourplex, Fourplex
Zoning
DE-3
Lot Size
39' x 95'
Taxes
$7,785 (2025
Basement
None
Heat Type
Forced Air
Heat Source
Gas
Water
Municipal
Parking Spaces
4
Garage Type
None
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Listing contracted with Real Broker Ontario Ltd.
An exceptional real estate portfolio addition awaits at 207 & 209 Victoria St. North, Hamilton, Ontario. Being sold together, this unique package offers rare advantage of acquiring two adjoining, 2-story semi-detached properties side-by-side for the price of one. Featuring 3,048 sq. ft. of total living space, this turnkey residential investment package consists of 4 self-contained units distributed across the 2 properties, each semi-detached home housing has two spacious 2-bedroom apartments. The property also includes 2 unfinished basements primed for value-add optimization. Key Property Features: Four 2-bedroom units, 4 independent gas meters, shifting heating costs to tenants and reducing landlord overhead. Private Outdoor Spaces: Each apartment boasts its own dedicated deck/balcony, providing highly desirable private outdoor space. Massive Value-Add Potential: The 2 unfinished basements offer a clean slate and an outstanding opportunity to renovate, develop additional usable square footage, and dramatically scale up your monthly cash flow. Great location close to Hamilton general hospitals, Ron Joyce Children's Health Centre and Public Transit.
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