22 Cross Street Chatham, Ontario N7M 2L1

$369,000

This investment property presents a compelling opportunity with strong potential returns. This property offers a one-bedroom unit with a projected rent of $1,350 and a two-bedroom unit projected 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, two gas meters and two water meters. In summary, the property is move-in ready or ready for tenancy with existing high-return potential. What are you waiting for? Don't miss out on this amazing cash flow opportunity! (id:55464)

Property Details

MLS® Number	26001855
Property Type	Multi-family

Building

Cooling Type	Central Air Conditioning
Exterior Finish	Aluminum/vinyl
Flooring Type	Laminate, Cushion/lino/vinyl
Foundation Type	Block
Heating Fuel	Natural Gas
Heating Type	Forced Air
Stories Total	1
Type	Duplex

Parking

Other

2

Land

Acreage	No
Size Irregular	X / 0.086 Ac
Size Total Text	X / 0.086 Ac|under 1/4 Acre
Zoning Description	Uc(cbd)

Rooms

Level	Type	Length	Width	Dimensions
Basement	Utility Room	19 ft ,1 in		19 ft ,1 in x Measurements not available
Main Level	Kitchen			Measurements not available
Main Level	4pc Bathroom	7 ft ,8 in		7 ft ,8 in x Measurements not available
Main Level	Bedroom			Measurements not available
Main Level	Dining Room		9 ft ,10 in	Measurements not available x 9 ft ,10 in
Main Level	Living Room	12 ft ,1 in		12 ft ,1 in x Measurements not available
Main Level	Foyer	6 ft ,5 in		6 ft ,5 in x Measurements not available
Main Level	Bedroom			Measurements not available
Main Level	Kitchen			Measurements not available
Main Level	Laundry Room	7 ft ,5 in		7 ft ,5 in x Measurements not available
Main Level	4pc Bathroom			Measurements not available
Main Level	Dining Room			Measurements not available
Main Level	Living Room			Measurements not available
Main Level	Bedroom		9 ft ,4 in	Measurements not available x 9 ft ,4 in

https://www.realtor.ca/real-estate/29287795/22-cross-street-chatham