Chatham-Kent - Chatham
Chatham-Kent - Chatham
Sold For$325,000
Listed For $359,000
Sold 3 months ago
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 inspect
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