162 Park Street Chatham, Ontario N7M 3R8

$589,900

Presenting an exceptional turnkey investment opportunity featuring a cash-flowing fourplex with a rare all-main-floor layout and grade-entrance accessibility. The property consists of four two-bedroom, one-bathroom units with separately metered hydro. Three units are occupied by reliable tenants who have a proven track record of on-time payments. These tenants moved in 2023, so rental rates are locked at near current market levels. The fourth unit has been freshly updated and is vacant, offering an immediate opportunity to place a high-quality tenant of your choice at market rent. On-site coin operated laundry provides an additonal income stream and the rental contract is transferable. The boiler was replaced in 2017, taking care of a major capital expenditure. Repairs were completed on the low-sloping roof in 2026 and there is room for 5-6 parking spots. With a cap rate of approximately 7%, this asset delivers predictable, high-yield performance. Call today for more information and schedule your private walkthrough. (id:55464)

Property Details

MLS® Number	26026413
Property Type	Multi-family
Equipment Type	Water Heater - Gas
Rental Equipment Type	Water Heater - Gas

Building

Amenities	Laundry Facility
Constructed Date	1945
Exterior Finish	Aluminum/vinyl, Stucco
Flooring Type	Ceramic/porcelain, Cushion/lino/vinyl
Foundation Type	Concrete
Heating Fuel	Natural Gas
Heating Type	Boiler, Ductless
Stories Total	1
Type	Fourplex

Parking

Other

5

Land

Acreage	No
Size Irregular	X / 0.19 Ac
Size Total Text	X / 0.19 Ac|0-0.25 Acre
Zoning Description	Rl3

Rooms

Level	Type	Length	Width	Dimensions
Main Level	Bedroom	11 ft	9 ft ,5 in	11 ft x 9 ft ,5 in
Main Level	Bedroom	8 ft ,3 in	11 ft ,2 in	8 ft ,3 in x 11 ft ,2 in
Main Level	4pc Bathroom	5 ft	8 ft	5 ft x 8 ft
Main Level	Living Room/dining Room	11 ft	17 ft ,6 in	11 ft x 17 ft ,6 in
Main Level	Kitchen	8 ft	7 ft ,2 in	8 ft x 7 ft ,2 in
Main Level	4pc Bathroom	5 ft	8 ft	5 ft x 8 ft
Main Level	Bedroom	9 ft ,5 in	12 ft	9 ft ,5 in x 12 ft
Main Level	Bedroom	9 ft ,3 in	12 ft	9 ft ,3 in x 12 ft
Main Level	Kitchen	5 ft ,5 in		5 ft ,5 in x Measurements not available
Main Level	Dining Room	8 ft	8 ft ,5 in	8 ft x 8 ft ,5 in
Main Level	Living Room	16 ft ,2 in	15 ft	16 ft ,2 in x 15 ft
Main Level	Living Room/dining Room	12 ft	25 ft ,3 in	12 ft x 25 ft ,3 in
Main Level	Bedroom	9 ft ,5 in	11 ft	9 ft ,5 in x 11 ft
Main Level	Bedroom	10 ft	9 ft	10 ft x 9 ft
Main Level	4pc Bathroom	5 ft	8 ft	5 ft x 8 ft
Main Level	Kitchen	8 ft ,5 in	7 ft ,3 in	8 ft ,5 in x 7 ft ,3 in
Main Level	Bedroom	10 ft ,7 in	11 ft	10 ft ,7 in x 11 ft
Main Level	Bedroom	10 ft	10 ft ,7 in	10 ft x 10 ft ,7 in
Main Level	4pc Bathroom	5 ft	7 ft	5 ft x 7 ft
Main Level	Kitchen	7 ft ,5 in	7 ft ,3 in	7 ft ,5 in x 7 ft ,3 in
Main Level	Living Room/dining Room	12 ft	23 ft ,6 in	12 ft x 23 ft ,6 in

https://www.realtor.ca/real-estate/30465285/162-park-street-chatham