Property Information:

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. (id:27)

Building Features:

Style: Duplex
Building Type: Duplex
Amenities: Separate Heating Controls, Separate Hydro Meters
Architectural Style: Bungalow
Basement Development: Unfinished
Basement Type: Partial, N/A, N/A
Exterior Finish: Vinyl siding
Fireplace: Yes
Floor Space: 1100 - 1500 sqft
Foundation Type: Block
Heating Type: Forced air
Heating Fuel: Natural gas
Cooling Type: Central air conditioning
Appliances: Dryer, Stove, Washer, Refrigerator

Property Features:

Property Type: Multi-family
Bedrooms: 3
Bathrooms: 2
Features: Sump Pump
Floor Space (approx): 1100 - 1500 Square Feet
Irregular: Yes
Lot Depth: 100 Feet
Lot Frontage: 36.7 Feet
Lot Size: 36.7 x 100 FT
Sewer: Sanitary sewer
Parking Type: Detached garage, Garage
No. of Parking Spaces: 2

Courtesy of: BLUE FOREST REALTY INC.

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Demographic Information of 22 CROSS STREET, Chatham-Kent (Chatham), Ontario, N7M 1K5

Life Stage

Young Couples

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$76,932.61

Average Number of Children

1.59

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

26.72 %

High school certificate or equivalent

39.56 %

Apprenticeship trade certificate/diploma

3.84 %

College/non-university certificate

20.01 %

University certificate (below bachelor)

0.07 %

University Degree

9.8 %

Commuter

Travel To Work

By Car

85.72 %

By Public Transit

0.67 %

By Walking

9.51 %

By Bicycle

0.0 %

By Other Methods

4.1 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

46.98 %

Houses

53.02 %

22 CROSS STREET, Chatham-Kent (Chatham), Ontario, N7M 1K5