266 Grand AVENUE West, Chatham, Ontario, N7L1C1
MLS: 26008228 | Triplex (Freehold)
$499,000
Property Description
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:64974)
Quick Facts
- Property Type: Triplex (Freehold)
- Bedrooms: None
- Bathrooms: None
- Year Built: 1900
- Ownership: Freehold
- Attached: Yes
Costs
- Annual Taxes: $3,843.99 (2025)
Listing Provided by: NEST REALTY INC.
Board: Chatham Kent Association of REALTORS®
Data provided via CREA DDF®.
Detailed Features
Interior & Systems
- Heating: Natural gas, Furnace
- Cooling: Central air conditioning
- Flooring: Hardwood, Laminate, Cushion/Lino/Vinyl
Exterior & Construction
- Exterior: Brick, Aluminum/Vinyl
- Foundation: Block, Concrete
Lot & Land
- Zoning: UC (HC1)
Listing Information
Listing History
MLS listing activity for 266 Grand AVENUE West, Chatham, Ontario, N7L1C1 — dates reflect when changes were recorded in the DDF
Location & Neighborhood
🚗 Travel times
Neighborhood Walkability
Mortgage & Cost Calculators
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Property Comparables ?Active Comparables — Search CriteriaSearch Radius2 kmPrice Range±15%Match Home TypeYesMatch BedroomsYes
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266 Grand AVENUE West, Chatham, Ontario, N7L1C1