31 Adelaide Street North, Chatham ON

About 31 Adelaide Street North

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:56071). Get more information on 31 Adelaide Street North

Property Features

Rental Equipment:  Water Heater - Gas
Zoning Description:  RL2
Lot:  X / 0.073 AC|under 1/4 acre X / 0.073 AC
Exterior Finish:  Aluminum/Vinyl
Flooring:  Ceramic/Porcelain, Laminate
Water:  ,
Heating / Cooling:   Electric, Natural gas /
Age: 
Basement:  

Rooms & Sizes

4pc Bathroom Second level Measurements not available	Bedroom Second level 13 ft ,2 in x 9 ft ,1 in	Foyer Second level Measurements not available
Kitchen Second level 13 ft ,1 in x 8 ft ,11 in	Living room Second level 13 ft ,1 in x 10 ft ,2 in	Bedroom Lower level 10 ft ,1 in x 9 ft ,5 in
4pc Bathroom Lower level Measurements not available	Living room Lower level 17 ft ,5 in x 12 ft	Kitchen Lower level 10 ft ,11 in x 8 ft
Bedroom Main level 12 ft ,3 in x 8 ft ,8 in	3pc Bathroom Main level Measurements not available	Kitchen Main level 13 ft ,5 in x 10 ft ,2 in
Dining room Main level 13 ft x 12 ft ,5 in	Living room Main level 13 ft x 12 ft ,11 in