266 Grand Avenue West, Chatham ON

About 266 Grand Avenue West

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:56071). Get more information on 266 Grand Avenue West

Property Features

Rental Equipment:  Water Heater - Gas
Directions:  Take Grand Ave W past Lacroix. Turn left onto the side street beside RestorFX. Driveway on the right-hand side.
Zoning Description:  UC (HC1)
Lot:  80.56 x Irregular / 0.51 AC|1/2 - 1 acre 80.56 x Irregular / 0.51 AC
Exterior Finish:  Aluminum/Vinyl, Brick
Flooring:  Hardwood, Laminate, Cushion/Lino/Vinyl
Water:  ,
Heating / Cooling:   Natural gas / Central air conditioning
Age:  1900
Foundation: Block, Concrete
Constructed Date:  1900
Basement:  

Rooms & Sizes