188-190 Caroline Street S

About this Property

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.

Listing Details

MLS #

40862614

Board

ITSO

Market

ontario

Property Type

Multi-4 Unit

Style

Residential Income

Parking Spaces

4

Basement

None

Heating

Forced Air, Natural Gas

Cooling

Central Air

Lot Size

39.00 × 95 ft

Annual Taxes

$7,785/yr

Listed By

Real Broker Ontario Ltd.

Presented By

REMAX Hallmark®

Listed On

September 17, 2026

Days on Market

29

Features & Extras