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$ 479,000
Est. payment /mo
New
266 Grand AVENUE West Chatham, ON N7L1C1
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
MLS® Listing ID 26017398
Year Built 1900
Property Sub-Type Freehold
Property Description
Set your own rents and maximize your returns with this turnkey triplex offering exceptional flexibility and long-term investment potential. With both the main floor and basement units now vacant, this is a rare opportunity to lease two units at today's market rates while benefiting from existing income from the upper unit. Situated on a premium lot backing onto the Thames River, this well-maintained property offers strong cash flow potential, multiple income streams, and future redevelopment possibilities. The main floor unit features a spacious 2-bedroom plus bonus room unit, while the recently refreshed basement apartment has been updated with fresh paint and new carpeting, making it move-in ready for a new tenant. The upper unit remains tenanted and offers additional untapped third-floor space, presenting an excellent opportunity to further increase value and rental income. Current market rents are estimated at approximately $1750-$1950/month for the main floor, $950-$1100/month for the basement apartment, and the upper unit currently rents for $868/month plus hydro and gas, leaving room for future rental growth. At market rents, this property offers excellent cash flow potential with significant upside. Additional features include a new roof installed in May 2025, a generous riverfront lot, and a location close to downtown amenities, parks, shopping, and public transit. Whether you're looking to build your investment portfolio, live in one unit while generating income from the others, or optimize the property for maximum returns, this is an opportunity that offers flexibility today and appreciation for years to come. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
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
Building
Story 3
Others
Ownership Freehold
Listed by NEST REALTY INC.
NEARBY SCHOOL & BUSINESS
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