188-190 CAROLINE Street S · Fourplex

188-190 CAROLINE Street S is a 4-unit fourplex in Hamilton, ON, asking $1,199,000 — $299,750 per door.

That lands inside the Hamilton band of $230k - $390k per door, so the ask is not the thing that decides this deal — the rent roll is. Hamilton cap rates screen 4.7% - 6.1% and average rent runs about $2,050 a door.

At 4 units this finances as residential, not commercial — MLI Select starts at five units. The qualifying rate still applies: federally regulated lenders test a 1–4 unit rental at the greater of your contract rate plus two points or 5.25%.

Hamilton can still offer workable small-multifamily economics, especially where transit and rent lift align. Investor demand reads high, vacancy tight.