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$479,000 266 Grand Avenue, Chatham, Ontario
PROPERTY INFO
Set your own rents and maximize your returns with this turnkey triplex offering exceptional flexibility and long-term investment potential. With both the main floor and basement units now vacant, this is a rare opportunity to lease two units at today's market rates while benefiting from existing income from the upper unit. Situated on a premium lot backing onto the Thames River, this well-maintained property offers strong cash flow potential, multiple income streams, and future redevelopment possibilities. The main floor unit features a spacious 2-bedroom plus bonus room unit, while the recently refreshed basement apartment has been updated with fresh paint and new carpeting, making it move-in ready for a new tenant. The upper unit remains tenanted and offers additional untapped third-floor space, presenting an excellent opportunity to further increase value and rental income. Current market rents are estimated at approximately $1750-$1950/month for the main floor, $950-$1100/month for the basement apartment, and the upper unit currently rents for $868/month plus hydro and gas, leaving room for future rental growth. At market rents, this property offers excellent cash flow potential with significant upside. Additional features include a new roof installed in May 2025, a generous riverfront lot, and a location close to downtown amenities, parks, shopping, and public transit. Whether you're looking to build your investment portfolio, live in one unit while generating income from the others, or optimize the property for maximum returns, this is an opportunity that offers flexibility today and appreciation for years to come.
PROPERTY SPECS
Price $479,000
City Chatham, Ontario
Address 266 Grand Avenue
Listing ID 26017398
Construction Aluminum/Vinyl, Brick
Roof Asphalt Shingle
Flooring Cushion or Lino or Vinyl, Hardwood or Engineered Hrwd, Laminate
Land Size 80.56 x Irregular
Type Multi-Family
Status For Sale


EXTRAS
Subtype Triplex Acreage 0.510 Ownership Freehold Foundation Block, Concrete Heating / Cooling Central Air Conditioning, Furnace, Other, See Remarks Heating Fuel Natural Gas Hot Water Tank Gas Utility Water Municipal Water Sewer Sanitary Date Listed Jul 17, 2026 Days on Market 10
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