Property Information:

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. (id:27)

Building Features:

Style: Triplex
Building Type: Triplex
Basement Type: Partial, Crawl space
Exterior Finish: Aluminum siding, Vinyl siding
Floor Space: 2000 - 2500 sqft
Foundation Type: Unknown
Heating Type: Forced air
Heating Fuel: Natural gas
Cooling Type: None
Appliances: Dryer, Stove, Washer, Refrigerator

Property Features:

Property Type: Multi-family
Bedrooms: 3
Bathrooms: 2
Floor Space (approx): 2000 - 2500 Square Feet
Irregular: Yes
Lot Depth: 106.8 Feet
Lot Frontage: 49.1 Feet
Lot Size: 49.1 x 106.8 FT
Zoning: RL3
Sewer: Sanitary sewer
Parking Type: No Garage
No. of Parking Spaces: 2

Courtesy of: BLUE FOREST REALTY INC.

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Demographic Information of 128 WEST STREET, Chatham-Kent (Chatham), Ontario, N7M 2R6

Life Stage

Midlife Families

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$84,763.78

Average Number of Children

1.88

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

29.67 %

High school certificate or equivalent

37.03 %

Apprenticeship trade certificate/diploma

5.51 %

College/non-university certificate

22.51 %

University Degree

5.28 %

Commuter

Travel To Work

By Car

88.26 %

By Public Transit

2.56 %

By Walking

8.27 %

By Bicycle

0.0 %

By Other Methods

0.91 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

30.27 %

Houses

69.73 %

128 WEST STREET, Chatham-Kent (Chatham), Ontario, N7M 2R6