266 Grand Avenue West, Chatham ON

About 266 Grand Avenue West

Set your own rents and maximize your returns with this turnkey triplex offering exceptional flexibility and long-term investment potential. With both the main floor and basement units now vacant, this is a rare opportunity to lease two units at today s market rates while benefiting from existing income from the upper unit. Situated on a premium lot backing onto the Thames River, this well-maintained property offers strong cash flow potential, multiple income streams, and future redevelopment possibilities. The main floor unit features a spacious 2-bedroom plus bonus room unit, while the recently refreshed basement apartment has been updated with fresh paint and new carpeting, making it move-in ready for a new tenant. The upper unit remains tenanted and offers additional untapped third-floor space, presenting an excellent opportunity to further increase value and rental income. Current market rents are estimated at approximately $1750-$1950/month for the main floor, $950-$1100/month for the basement apartment, and the upper unit currently rents for $868/month plus hydro and gas, leaving room for future rental growth. At market rents, this property offers excellent cash flow potential with significant upside. Additional features include a new roof installed in May 2025, a generous riverfront lot, and a location close to downtown amenities, parks, shopping, and public transit. Whether you re looking to build your investment portfolio, live in one unit while generating income from the others, or optimize the property for maximum returns, this is an opportunity that offers flexibility today and appreciation for years to come. (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 (Approximate):  80.56 x Irregular / 0.51 AC|0.50- 1.00 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 (Approximate):  1900
Foundation: Block, Concrete
Constructed Date:  1900
Basement:  

Rooms & Sizes

(Approximate)