31 Adelaide STREET North, Chatham, Ontario, N7M4K2
MLS: 26008870 | Duplex (Freehold)
$379,900
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:64974)
Quick Facts
- Property Type: Duplex (Freehold)
- Bedrooms: None
- Bathrooms: None
- Ownership: Freehold
- Attached: Yes
Costs
- Annual Taxes: $3,525.00 (2025)
Listing Provided by: NEST REALTY INC.
Board: Chatham Kent Association of REALTORS®
Data provided via CREA DDF®.
Detailed Features
Interior & Systems
- Heating: Baseboard heaters, Forced air, Electric, Natural gas, Furnace
- Flooring: Laminate, Ceramic/Porcelain
Exterior & Construction
- Exterior: Aluminum/Vinyl
Lot & Land
- Zoning: RL2
Room Details (14 rooms)
Listing Information
Listing History
MLS listing activity for 31 Adelaide STREET North, Chatham, Ontario, N7M4K2 — dates reflect when changes were recorded in the DDF
Location & Neighborhood
🚗 Travel times
Neighborhood Walkability
Mortgage & Cost Calculators
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31 Adelaide STREET North, Chatham, Ontario, N7M4K2