31 Adelaide Street North, Chatham, N7M4K2

Home Overview

Description

Welcome to this fully renovated Northside property offering flexibility for homeowners and investors alike. This home can be easily converted back to a single dwelling. This fully renovated multi residential home is zoned RL2 with units in the upper, middle, and lower floors offering a rare opportunity to live in one unit and rent the others and maximize returns. 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. Call today for your private showing (id:39198)

2 days

On Market

Single Family

Property Type

$3,525 / Year

Est. Taxes

House

Style

-

Garage

-

Basement