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$ 379,900
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31 Adelaide STREET North Chatham, ON N7M4K2
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Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
MLS® Listing ID 26008870
Property Sub-Type Freehold
Property Description
Attention investors looking for a distinguished investment residence offering exceptional income potential. This fully renovated multi residential home zoned RL2 with units in the upper, middle, and lower floors offers a rare opportunity to set your own rents and maximize returns from day one with vacant possession available. All units are self contained with private entrances, updated kitchens and bathrooms, new flooring, lighting, and appliances throughout. With approximately $80,000 in recent upgrades, including electrical panels, plumbing updates, exterior improvements, and a new waterline, this is a low-maintenance asset with significant capital improvements already completed. Two units are currently vacant and market rent is estimated at approximately $1,500 per month per unit, all inclusive. The lower unit is owner-occupied and will be vacant on closing, allowing the buyer full flexibility to establish market rents. Operating expenses are estimated at approximately 9,000 per year (to be verified by the Buyer), providing a strong opportunity to stabilize the asset and optimize cash flow. Additional features include shared laundry, ample on-site parking, and a refreshed exterior with new siding, fencing, and outdoor space. Situated in a desirable North Chatham enclave, just moments from downtown boutique shopping, dining, and everyday conveniences - offering both lifestyle and investment appeal. This property is well-positioned to attract strong tenant demand. (id:24570)
Location
Province ON
Rooms
Kitchen 3.0
Extra Room 1 Second level Measurements not available 4pc Bathroom
Extra Room 2 Second level 13 ft , 2 in X 9 ft , 1 in Bedroom
Extra Room 3 Second level Measurements not available Foyer
Extra Room 4 Second level 13 ft , 1 in X 8 ft , 11 in Kitchen
Extra Room 5 Second level 13 ft , 1 in X 10 ft , 2 in Living room
Extra Room 6 Lower level 10 ft , 1 in X 9 ft , 5 in Bedroom
Interior
Heating Baseboard heaters, Forced air, Furnace, ,
Flooring Ceramic/Porcelain, Laminate
Exterior
Parking Features No
View Y/N No
Attached Garage No
Garage No
Private Pool No
Building
Story 2
Others
Ownership Freehold
Listed by NEST REALTY INC.
NEARBY SCHOOL & BUSINESS
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