view of snow covered exterior with a chimney and a porch Features: porch More Photos

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    For Sale - 22 Cross Street, Chatham-Kent, Ontario

    Est payment $1,829/mo
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    Time on Jump  7 day

    AI Summary *

    • Strong potential returns with a projected cap rate over 10%.
    • Two updated rental units ready for immediate occupancy.
    • New electrical work and components ensure safety and efficiency.
    • Equipped with two water tanks and furnaces for reliability.
    • Vacant property allows for quick new tenant placement.




    This investment property presents a compelling opportunity with strong potential returns. The current rents reflect two units: a one-bedroom unit with a projected rent of $1,350 and a two-bedroom unit at $1,750 plus utilities. With a list price of $369,000, the projected cap rate stands over a solid 10% after accounting for insurance and property taxes. Notably, the property is vacant and ready for new tenancy, allowing a new owner to present immediate occupancy without downtime. Typically, properties at this return level require substantial renovations; however, this property has been extensively updated. Electrical work is completely brand new, including complete rewiring, a separate meter and panel-based setup, updated overhead service, and all new electrical components. All esa inspections have been completed, and the property is equipped with two water tanks, two furnaces, and two gas meters and two water meters.
    Listing IDX12728000
    Address22 Cross Street
    CityChatham-Kent, Ontario
    Price$369,000
    Bed / Bath3 / 2 Full
    StyleBungalow, Duplex
    ConstructionVinyl Siding
    TypeMulti-Family
    StatusFor Sale

    Subtype DuplexIndoor Features Separate Heating Controls, Separate Hydro Meter, Sump Pump, Water Heater OwnedOwnership FreeholdBasement Partial Basement, Unfinished, Separate EntranceFoundation BlockHeating / Cooling Forced AirHeating Fuel GasSewer Sewer

    Parking 2.00
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    Listing Agency:  BLUE FOREST REALTY INC.
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    22 Cross Street
    Chatham-Kent , Ontario
    3 2 $369,000
    Get more info