1/34241 GRAND AVENUE E, Chatham-Kent (Chatham)
241 GRAND AVENUE E, Chatham-Kent (Chatham), ON N7L1W7
$1.2M total
4,747 SF
Asset Class
Multifamily
Size
4,747 SF
Building class
C
Zoning
RF6 — Medium Density
$ / SF
$253
Occupancy
94%
About this property
Well-maintained mixed-use investment property on a corner lot along Grand Ave E in Chatham, offered together with an additional HC1-zoned lot. The building has ten units in total, with eight renovated residential suites and two street-front commercial spaces. Extensive updates have been completed over the years, including the roof, windows, siding, electrical, plumbing and water heater, along with renovated kitchens, washrooms and flooring throughout the residential units. Hydro is separately metered with tenants paying their own, and there is room to grow income over time. The additional lot currently serves as parking for the commercial units and offers potential for future development. A solid opportunity for investors looking for steady income with upside. (id:66811)
Financial sandbox
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Monthly debt service
$6K
Projected NOI
$55K
Annual cash flow
$-12K
Cash-on-cash
-3.23%
DSCR
0.83
Going-in cap
4.57%
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.
Rent roll (estimated)
| Tenant | Area | Expiry |
|---|---|---|
| Lakeview Physiotherapy | 1,899 SF | 2030-10 |
| Lakeview Physiotherapy | 1,096 SF | 2030-10 |
| Lakeview Physiotherapy | 1,472 SF | 2030-11 |
Area demographics
Trade area within 3 miles of the property.
Population
83,716
Households
35,698
Median income
$106,500
Median age
44.5
Daytime population
120,254
5-yr growth
8.6%
Modelled estimates for illustration until a licensed census data provider is connected.
Secure deal room
Confidential diligence documents for 241 GRAND AVENUE E, Chatham-Kent (Chatham).
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.