27
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$369,000
Est. payment /mo
3 Beds
2 Baths
New
22 Cross ST Chatham-kent, ON N7M 1K5
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Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1100-1500
Subdivision Chatham
MLS Listing ID X12728000
Style Bungalow
Bedrooms 3
Annual Tax Amount $1,663
Tax Year 2025
Property Sub-Type Duplex
Property Description
This investment property presents a compelling opportunity with strong potential returns. The current rents reflect two units: a one-bedroom unit with a projected rent of $1,350 and a two-bedroom unit at $1,750 plus utilities. With a list price of $369,000, the projected cap rate stands over a solid 10% after accounting for insurance and property taxes. Notably, the property is vacant and ready for new tenancy, allowing a new owner to present immediate occupancy without downtime. Typically, properties at this return level require substantial renovations; however, this property has been extensively updated. Electrical work is completely brand new, including complete rewiring, a separate meter and panel-based setup, updated overhead service, and all new electrical components. All ESA inspections have been completed, and the property is equipped with two water tanks, two furnaces, and two gas meters and two water meters.
Location
Province ON
County Chatham-kent
Area Chatham-Kent
Rooms
Family Room Yes
Basement Partial Basement, Unfinished, Separate Entrance
Kitchen 2
Interior
Interior Features Separate Heating Controls, Separate Hydro Meter, Sump Pump, Water Heater Owned
Cooling Central Air
Fireplace Yes
Heat Source Gas
Exterior
Garage Spaces 1.0
Pool None
Roof Type Asphalt Shingle
Lot Frontage 36.67
Lot Depth 100.0
Total Parking Spaces 2
Building
Foundation Block
Others
ParcelsYN No
Listed by BLUE FOREST REALTY INC.
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