41 ADELAIDE STREET South, Chatham, Ontario, N7M4R1
MLS: 26008922 | Triplex (Freehold)
$284,900
Property Description
A rare value-add triplex in a centrally located CBD-zoned area, offering immediate income, strong upside, and future flexibility. This is an ideal opportunity for investors looking to reposition a multi-unit asset and force appreciation through renovations and rent optimization. The property consists of three self-contained units. One unit is currently tenanted, generating $850/month plus gas and hydro, providing in-place income from day one. The remaining two units are vacant and ready for renovation, including a one-bedroom and a two-bedroom suite. Both units present a clear opportunity to add value through updates and modernization, with strong upside once stabilized. The property is well-structured for investment efficiency with separate hydro and gas meters, allowing tenants to pay their own gas and hydro, while the landlord is responsible only for water. Each unit is serviced by its own gas furnace and dedicated electrical breaker panel, supporting independent utility control and ease of management. On-site parking is available for all units. Located close to downtown amenities and within CBD zoning, the property offers additional flexibility and long-term redevelopment potential beyond its current use. The property is being sold as-is, making it a strong fit for investors seeking a straightforward value-add opportunity with clear upside through repositioning. (id:64974)
Quick Facts
- Property Type: Triplex (Freehold)
- Bedrooms: None
- Bathrooms: None
- Year Built: 1923
- Ownership: Freehold
- Attached: Yes
Costs
- Annual Taxes: $2,337.00 (2025)
Listing Provided by: BLUE FOREST REALTY INC.
Board: Chatham Kent Association of REALTORS®
Data provided via CREA DDF®.
Detailed Features
Interior & Systems
- Heating: Forced air, Natural gas
- Flooring: Laminate, Cushion/Lino/Vinyl
Exterior & Construction
- Exterior: Brick
Lot & Land
- Zoning: CBD
Listing Information
Listing History
MLS listing activity for 41 ADELAIDE STREET South, Chatham, Ontario, N7M4R1 — dates reflect when changes were recorded in the DDF
Location & Neighborhood
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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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41 ADELAIDE STREET South, Chatham, Ontario, N7M4R1