Multi-Family $ 499,000

266 Grand AVENUE West

Chatham, ON N7L1C1

  • 1900 Year Built
Turnkey cash-flowing Triplex with strong income potential, solid cash flow, and attractive NOI. Positioned on a premium lot backing onto the Thames River, this well-maintained property offers multiple income streams, redevelopment upside, and flexible future use options. Currently configured as three separate units. The main floor features a well-appointed 2-bedroom plus bonus room unit generating $1,554 per month all inclusive. The upper unit is spacious and offers additional untapped square footage on a third level, presenting clear value-add potential, currently renting for $868 plus hydro and gas. The basement unit has been recently updated with new carpet and fresh paint, is currently vacant, and provides immediate upside for rent optimization (previously rented for $1,083). Projected annual gross income of approximately $42,060. Estimated annual expenses between $12,000–$16,000, resulting in an approximate NOI of $26,000. New roof installed May 2025. Minimum 24 hours notice required for all showings. Strong investment fundamentals with immediate income, upside potential, and long-term growth opportunity. Opportunities like this in a prime riverfront setting and flexible zoning are limited. Secure your position in this asset today before it is gone. (id:24570)
Listed by NEST REALTY INC.

PROPERTY DETAIL

  • Key Details

    Property Type Multi-Family

    Sub Type Freehold

    Listing Status Active

    Purchase Type For Sale

    MLS Listing ID 26008228

    Year Built 1900

    Property Sub-Type Freehold

  • Location

    Province ON

  • Rooms

    Kitchen 0.0

  • Building

    Story 3

  • Interior

    Heating Furnace,

    Cooling Central air conditioning

    Flooring Hardwood, Laminate, Cushion/Lino/Vinyl

  • Exterior

    Parking Features No

    View Y/N No

    Attached Garage No

    Garage No

    Private Pool No

  • Others

    Ownership Freehold

CONTACT

GET IN TOUCH

Your Full Name
Your Phone Number*
Write Your Message