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$399,000
Ontario,Chatham
For Sale Active
31 Adelaide STREET North, Chatham, Ontario N7M4K2
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Basic Details
Description

Attention investors. This fully renovated legal non-conforming triplex offers a rare opportunity to set your own rents and maximize returns from day one with vacant possession available. Located in a desirable Northside Chatham neighbourhood within walking distance to downtown amenities, Tecumseh Park, and the Cultural Centre, this property is well-positioned to attract strong tenant demand. The property features three self-contained

units, each with private entrances, updated kitchens and bathrooms, new flooring, lighting, and appliances throughout. With approximately $80,000 in recent upgrades, including electrical panels, plumbing updates, exterior improvements, and a new waterline, this is a low-maintenance asset with significant capital improvements already completed. Two units are currently vacant and market rent is estimated at approximately $1,500 per month per unit, all inclusive. The third unit is owner-occupied and will be vacant on closing, allowing the buyer full flexibility to establish market rents across all three units. Operating expenses are estimated at approximately $9,045 per year (to be verified by the Buyer), providing a strong opportunity to stabilize the asset and optimize cash flow. Additional features include shared laundry, ample on-site parking, and a refreshed exterior with new siding, fencing, and outdoor space. Buyer to complete their own due diligence with respect to zoning, permitted uses, and compliance with municipal by-laws. The Seller makes no representations or warranties as to the current or future use of the property. (id:62650)

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Basic Details
  • Property Type: Residential Income
  • Listing Type: For Sale
  • Listing ID: 26001875
  • Price: $399,000
  • Status: Active
  • Property Attached Yn: 1
  • Property Sub Type: Multi-family
  • Office Key: 277514
Features & Appliances
Features
  • Heating System: Electric, Forced air, Natural gas, Baseboard heaters, Furnace
  • Parking: Other
  • Exterior Features: Aluminum/Vinyl
  • Flooring: Laminate, Ceramic/Porcelain
Address Map
  • Location: CA, Ontario, Chatham, N7M4K2
  • Street: Adelaide
  • Street Number: 31
  • Street Suffix: Street
  • Longitude: W83° 49' 11.2''
  • Latitude: N42° 24' 26.4''
  • Street Dir Suffix: North
Additional Information
  • Lot Size Dimensions: X / 0.073 AC
  • Number Of Units Total: 3
  • Stories: 2.0
Financial
  • Tax Annual Amount: 3525
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Listing updated: 2026-04-16 22:18:11
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Listing Information
  • List Agent Key: 2009240
  • List Office Key: 277514
  • Modification Timestamp: 2026-04-08T22:00:43Z
  • Originating System Name: Chatham Kent Association of REALTORS®
  • Status Change Timestamp: 2026-04-08T21:53:43Z
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Listing updated: 2026-04-16 22:18:11
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