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$ 324,900
Est. payment /mo
New
128 WEST Street Chatham, ON N7M 2R6
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26008439
Year Built 1900
Tax Year 2025
Property Sub-Type Triplex
Source WESC
Property Description
This triplex offers strong rental income and excellent flexibility for both investors and owner-occupants. The property currently generates $2,135 per month from two tenanted units, with a third unit vacant that was previously rented for $1,195 per month plus utilities, bringing the potential gross monthly income to $3,330.The building features three self-contained units, including a spacious 2-bedroom unit and two 1-bedroom units. Unit 1 is a 1-bedroom currently rented for $1,050 per month plus hydro and gas. Unit 2 is a 2-bedroom unit rented for $1,085 per month, inclusive. Unit 3 is a 1-bedroom that is currently vacant and was previously rented for $1,195 per month plus hydro and gas. The vacant unit is move-in ready, making it ideal for a buyer looking to set market rent or move in and offset their mortgage. Each unit has separate hydro and gas meters, allowing for straightforward expense management and added investor appeal. On-site laundry is available for tenant convenience. Two of the units have been thoughtfully updated, blending modern finishes with character. Key mechanical updates include a furnace and a hot water tank completed in 2023. Additional improvements include renovations to Unit 1 in 2024 and Unit 3 in 2023, a new entrance for Unit 3 completed in 2025, and sewer and drain lines that have been replaced and lined with CIPP for long-term peace of mind. The property also offers parking for two vehicles and a functional layout that continues to attract quality tenants. Whether you're expanding your portfolio or entering the market with a house hacking strategy, this is a solid income-generating opportunity in Chatham.
Location
Province ON
Zoning RL3
Interior
Heating Forced Air
Cooling Forced Air
Flooring Cushion or Lino or Vinyl, Laminate, Mixed Flooring
Inclusions 3 REFRIGERATORS; 3 STOVES; 1 WASHER; 1 DRYER;
Exterior
Roof Type Asphalt Shingle
Building
Foundation Unknown
Sewer Sanitary
Listed by BLUE FOREST REALTY INC.