1/3977 ERIE STREET S, Chatham-Kent (Ridgetown)
77 ERIE STREET S, Chatham-Kent (Ridgetown), ON N0P2C0
$1.7M total
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Asset Class
Multifamily
Size
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Building class
B
Zoning
RF6 — Medium Density
$ / SF
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Occupancy
87%
Lot Size
1.188 ac
About this property
Located near the University of Guelph, Ridgetown Campus, home to one of the province's leading Vet Tech programs, this property is a regularly fully occupied student rental generating over $200,000 in gross annual revenue. The property features two separate buildings with a total of 18 rental units, offering a unique combination of income, flexibility, and strong rental demand. The main building features 10 bachelor units, each with its own 3-piece bathroom and kitchenette, along with one 1-bedroom unit and a spacious 2-bedroom unit. The second building offers 5 full bathrooms and 6 individual bedrooms. This property also offers ample parking, 6 washer/dryer stations, FOB entry, and a full-size common kitchen. With strong student demand, excellent rental income, and a versatile layout, this is a fantastic opportunity for an investor looking for a turn-key, income-producing property. (id:66811)
Financial sandbox
Adjust the deal assumptions — returns recalculate instantly.
Monthly debt service
$8K
Projected NOI
$65K
Annual cash flow
$-28K
Cash-on-cash
-5.59%
DSCR
0.70
Going-in cap
3.86%
Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.
Area demographics
Trade area within 3 miles of the property.
Population
50,316
Households
21,989
Median income
$132,000
Median age
38.7
Daytime population
52,624
5-yr growth
3.7%
Modelled estimates for illustration until a licensed census data provider is connected.
Secure deal room
Confidential diligence documents for 77 ERIE STREET S, Chatham-Kent (Ridgetown).
Offering Memorandum
PDF · 4.2 MB
Rent Roll & T-12
XLSX · 820 KB
Environmental Phase I
PDF · 6.7 MB
Site Survey & Plans
PDF · 11.4 MB
Zoning Confirmation Letter
PDF · 310 KB
Preview experience — the electronic NDA is illustrative and is not a binding agreement.