31 Adelaide Street North Chatham, Ontario N7M 4K2

$379,900

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:60821)

Property Details

MLS® Number	26008870
Property Type	Multi-family
Equipment Type	Water Heater - Gas
Rental Equipment Type	Water Heater - Gas

Building

Exterior Finish	Aluminum/vinyl
Flooring Type	Ceramic/porcelain, Laminate
Heating Fuel	Electric, Natural Gas
Heating Type	Baseboard Heaters, Forced Air, Furnace
Stories Total	2
Type	Duplex

Parking

Other

4

Land

Acreage	No
Size Irregular	X / 0.073 Ac
Size Total Text	X / 0.073 Ac|under 1/4 Acre
Zoning Description	Rl2

Rooms

Level	Type	Length	Width	Dimensions
Second Level	4pc Bathroom			Measurements not available
Second Level	Bedroom	13 ft ,2 in	9 ft ,1 in	13 ft ,2 in x 9 ft ,1 in
Second Level	Foyer			Measurements not available
Second Level	Kitchen	13 ft ,1 in	8 ft ,11 in	13 ft ,1 in x 8 ft ,11 in
Second Level	Living Room	13 ft ,1 in	10 ft ,2 in	13 ft ,1 in x 10 ft ,2 in
Lower Level	Bedroom	10 ft ,1 in	9 ft ,5 in	10 ft ,1 in x 9 ft ,5 in
Lower Level	4pc Bathroom			Measurements not available
Lower Level	Living Room	17 ft ,5 in	12 ft	17 ft ,5 in x 12 ft
Lower Level	Kitchen	10 ft ,11 in	8 ft	10 ft ,11 in x 8 ft
Main Level	Bedroom	12 ft ,3 in	8 ft ,8 in	12 ft ,3 in x 8 ft ,8 in
Main Level	3pc Bathroom			Measurements not available
Main Level	Kitchen	13 ft ,5 in	10 ft ,2 in	13 ft ,5 in x 10 ft ,2 in
Main Level	Dining Room	13 ft	12 ft ,5 in	13 ft x 12 ft ,5 in
Main Level	Living Room	13 ft	12 ft ,11 in	13 ft x 12 ft ,11 in

https://www.realtor.ca/real-estate/29639864/31-adelaide-street-north-chatham