46-48 Wellington Street E

Introducing a remarkable opportunity: a Multi-Family Home for sale in Chatham-Kent, located at 46-48 Wellington Street E, Chatham-Kent. This impressive multiplex, which has recently undergone renovations in 2022, offers a unique investment prospect for those seeking a property that promises significant cash flow. With a total of 14 rooms, this two-storey brick building is designed to accommodate multiple families comfortably, making it an ideal choice for investors or those looking to live in one unit while renting out the others.

The property comprises three well-appointed kitchens, catering to the needs of each unit. Specifically, the layout includes two two-bedroom units and one one-bedroom unit, each equipped with separate heating and electrical systems, ensuring that tenants enjoy independence and comfort. The in-suite laundry facilities further enhance the appeal of this Multi-Family Home for sale in Chatham-Kent, allowing residents the convenience of doing laundry within their own living spaces.

As you step inside, you will be greeted by modern finishes that elevate the living experience. The kitchens boast stylish quartz countertops, complemented by dishwashers that make meal preparation and clean-up a breeze. The bathrooms feature tiled showers, adding a touch of luxury, while the LED lighting throughout the property creates a bright and inviting atmosphere. The family room provides a communal space for relaxation and socialising, making this home not just a place to live, but a place to thrive.

The property also benefits from a heat pump system, ensuring efficient heating throughout the colder months. While there is no central vacuum system, the absence of a basement simplifies maintenance and upkeep. The home is unfurnished, allowing new owners to personalise the space to their taste. Furthermore, the absence of a pool and fireplace means that maintenance is kept to a minimum, making this Multi-Family Home for sale in Chatham-Kent an even more attractive investment.

Situated on a lot measuring 56 by 68 feet, the property includes a private driveway with ample parking space for up to five vehicles. This is a significant advantage, especially in a bustling area such as Chatham-Kent, where parking can often be a challenge. The property is connected to municipal water and sewer services, ensuring that essential utilities are readily available.

The financial potential of this Multi-Family Home for sale in Chatham-Kent is noteworthy, with the possibility of generating up to $49,000 in rental income. The landlord covers the gas for the on-demand tank and water, making it an appealing option for prospective tenants. Additionally, the neighbouring four-plex is also for sale, presenting an exciting opportunity for further investment and potential CMHC financing.

The location at 46-48 Wellington Street E, Chatham-Kent, is ideal for those who appreciate the convenience of being just steps away from downtown Chatham. This vibrant community offers a variety of amenities, including shops, restaurants, and recreational facilities, all within easy reach. The proximity to these conveniences enhances the desirability of this Multi-Family Home for sale in Chatham-Kent, making it an excellent choice for both tenants and investors alike.

In summary, this property at 46-48 Wellington Street E, Chatham-Kent, is a prime example of a well-maintained, cash-flowing triplex that offers a wealth of features and potential. With its modern renovations, spacious living arrangements, and strategic location, it stands out as a lucrative investment opportunity. Don't miss your chance to own this Multi-Family Home for sale in Chatham-Kent—seize the opportunity to invest in a property that promises both comfort and financial return.

Chatham, located within the municipality of Chatham-Kent in southwestern Ontario, is a charming town that beautifully blends historical charm with modern amenities. Nestled along the banks of the Thames River, Chatham boasts a rich heritage, evident in its well-preserved architecture and vibrant downtown area, which features a variety of shops, cafes, and cultural attractions. The town is surrounded by picturesque farmland and natural landscapes, providing ample opportunities for outdoor activities such as hiking, cycling, and fishing. With a strong sense of community spirit, friendly residents, and a range of local events throughout the year, Chatham offers a welcoming atmosphere for newcomers looking to settle in a peaceful yet engaging environment.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an excellent choice for families. Within just 1.0 km, you will find Queen Elizabeth II Public School, an elementary school offering grades FDK to 8 with a school rating of 3.1. For secondary education, Chatham Kent Secondary School is situated 2.3 km away, providing grades 9 to 12 and boasting a commendable rating of 4.3. Additionally, McNaughton Avenue Public School, located 2.5 km from the property, offers a French-language curriculum for grades JK/SK to 8 and has an impressive rating of 5.1. Another option for secondary education is the French-language program at Chatham Kent Secondary School, which shares the same address as its English counterpart. Lastly, Monsignor Uyen Catholic School, a Catholic elementary school offering grades JK to 8, is located 3.5 km away, although it currently holds a rating of 0. Overall, this area provides a diverse range of schooling options, catering to various educational needs and preferences, ensuring that families have access to quality education close to home.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small population of 549 residents, with an average household size of 1.9. The community is characterized by an average age of 50.3 years and a median household income of $46,400, indicating a modest economic environment. A significant portion of the population, 31.2%, is classified as low-income, and the average property price in the area is approximately $264,000. The demographic makeup shows a predominance of single individuals, comprising 70.41% of the population, while households with children represent 27.27%. Renters dominate the housing landscape, making up 70.18% of residents, and condominiums account for 14.04% of the housing stock. Educational attainment is relatively low, with only 29.89% of residents holding a college or university degree. Additionally, 58.62% of the population is not actively participating in the labor force, and immigrants constitute 6.8% of the community. This demographic snapshot highlights a diverse yet economically challenged area with a significant number of renters and a mature population.