22 Cross Street

Introducing a remarkable opportunity to acquire a Multi-Family Home for sale in Chatham-Kent, located at 22 Cross Street, Chatham-Kent. This exceptional property is a multiplex bungalow, designed to cater to those seeking a lucrative investment with significant potential returns. The house boasts a robust structure clad in vinyl siding, ensuring both durability and aesthetic appeal. With a generous lot size of 37 x 100 feet, this property is ideally situated within the vibrant community of Chatham, making it a prime choice for savvy investors.

The layout of this Multi-Family Home for sale in Chatham-Kent is thoughtfully designed, featuring a total of 12 rooms, including three well-proportioned bedrooms and two bathrooms. The property includes two kitchens, making it particularly advantageous for multi-family living or rental opportunities. The presence of a family room adds to the appeal, providing ample space for relaxation and social gatherings. Notably, this home is unfurnished, allowing new owners the freedom to personalise the interiors to their taste.

The investment potential of this property is further highlighted by the current rental structure, which consists of two units: a one-bedroom unit with a projected rent of £1,350 and a two-bedroom unit estimated at £1,750 plus utilities. With a competitive list price of £369,000, the projected cap rate exceeds a solid 10% after factoring in insurance and property taxes. This Multi-Family Home for sale in Chatham-Kent is currently vacant, allowing for immediate occupancy and the opportunity for new tenants without any downtime.

One of the standout features of this property is the extensive updates that have been carried out. The electrical system has been completely overhauled, including brand new wiring, a separate meter and panel setup, and updated overhead service, ensuring compliance with modern safety standards. All necessary ESA inspections have been completed, providing peace of mind for prospective buyers. Additionally, the property is equipped with two water tanks, two furnaces, and two gas meters, as well as two water meters, enhancing its functionality for multi-family living.

The heating system is powered by forced air, while central air conditioning ensures comfort during warmer months. Although there is no central vacuum system, the property is designed for practicality and ease of maintenance. The presence of a fireplace adds a charming touch, creating a cosy atmosphere during the colder seasons. However, it is worth noting that there is no swimming pool on the premises, which may be a consideration for some buyers.

Parking is conveniently catered for with a detached garage space accommodating one vehicle, alongside a designated parking space for additional convenience. The property is connected to municipal water and sewer systems, ensuring reliable services for its occupants. The partial basement, although unfinished, features a separate entrance, providing potential for further development or storage solutions.

In summary, this Multi-Family Home for sale in Chatham-Kent at 22 Cross Street, Chatham-Kent, presents an outstanding investment opportunity with its strong rental potential and extensive updates. The combination of a prime location, modern amenities, and a well-maintained structure makes this property an attractive choice for both seasoned investors and first-time buyers alike. Don't miss out on the chance to own this exceptional property, which is poised to deliver substantial returns in the thriving community of Chatham. Seize the opportunity today to explore this Multi-Family Home for sale in Chatham-Kent and unlock its full potential!

Chatham, located in the heart of Chatham-Kent, is a charming town that beautifully blends historical significance with modern amenities. Nestled along the banks of the Thames River, it offers picturesque parks and scenic trails, perfect for outdoor enthusiasts. The town boasts a vibrant downtown area filled with unique shops, delightful cafés, and a rich tapestry of cultural events that celebrate its diverse heritage. With a strong sense of community spirit, Chatham is known for its friendly residents and welcoming atmosphere, making it an ideal place for those seeking a tranquil yet engaging lifestyle. The area's excellent schools and healthcare facilities further enhance its appeal, ensuring a comfortable and fulfilling living experience for families and individuals alike.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. The closest elementary school is Victor Lauriston Public School, situated just 1.2 km away, offering grades K to 8 with an English curriculum and a school rating of 0.9. For secondary education, Chatham Kent Secondary School is only 2.2 km from the property, providing grades 9 to 12 in both English and French, and boasts a commendable rating of 4.3. Additionally, McNaughton Avenue Public School, another elementary option, is located 2.6 km away, offering a French curriculum for JK/SK to grade 8, with a higher school rating of 5.1. There is also Monsignor Uyen Catholic School, a Catholic elementary institution 2.9 km away, offering French instruction for grades JK to 8, though it has a lower rating of 0. Overall, the area is well-served by a variety of public and Catholic schools, ensuring a range of educational choices for children in the community.