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$499,000 266 Grand Avenue, Chatham, Ontario
PROPERTY INFO
Turnkey cash-flowing Triplex with strong income potential, solid cash flow, and attractive NOI. Positioned on a premium lot backing onto the Thames River, this well-maintained property offers multiple income streams, redevelopment upside, and flexible future use options. Currently configured as three separate units. The main floor features a well-appointed 2-bedroom plus bonus room unit generating $1,554 per month all inclusive. The upper unit is spacious and offers additional untapped square footage on a third level, presenting clear value-add potential, currently renting for $868 plus hydro and gas. The basement unit has been recently updated with new carpet and fresh paint, is currently vacant, and provides immediate upside for rent optimization (previously rented for $1,083). Projected annual gross income of approximately $42,060. Estimated annual expenses between $12,000–$16,000, resulting in an approximate NOI of $26,000. New roof installed May 2025. Minimum 24 hours notice required for all showings. Strong investment fundamentals with immediate income, upside potential, and long-term growth opportunity. Opportunities like this in a prime riverfront setting and flexible zoning are limited. Secure your position in this asset today before it is gone.
PROPERTY SPECS
Price $499,000
City Chatham, Ontario
Address 266 Grand Avenue
Listing ID 26008228
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 Apr 15, 2026 Days on Market 40
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