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$1,199,000
Est. payment /mo
7 Beds
5 Baths
3,256 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3256
Square Footage 3,256 sqft
Price per Sqft $368
Subdivision 122 - Durand North
MLS® Listing ID 40862614
Bedrooms 7
Property Sub-Type Freehold
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. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air,
Cooling Central air conditioning
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 4
Garage No
Private Pool No
Building
Story 2
Sewer Municipal sewage system
Others
Ownership Freehold
Virtual Tour https://dl.dropboxusercontent.com/scl/fi/9s7ye026f1re6nz9ed4ft/189-Caroline-St-S-Video.mp4?rlkey=0iqu23wh2947zr2zjzgdstojm&raw=1
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Listed by Real Broker Ontario Ltd.
Nearby Locations
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