50-52 Wellington Street E

Welcome to this fantastic opportunity: a Multi-Family Home for sale in Chatham-Kent, located at 50-52 Wellington Street E, Chatham-Kent. This charming multiplex boasts a prime location just a stone's throw from the vibrant downtown area of Chatham, making it an ideal investment for those looking to enter the rental market or expand their portfolio.

This two-storey building, clad in durable vinyl siding, offers a total of four one-bedroom units, each designed with comfort and convenience in mind. The property is a cashflowing fourplex, which means it’s not just a home but a smart financial choice. Each unit is equipped with its own separate hydro meter, allowing for easy management of utilities and ensuring that each tenant pays for their own consumption. With a potential rental income of $57,000, this Multi-Family Home for sale in Chatham-Kent presents a lucrative opportunity for investors.

The layout of the property is both functional and appealing, featuring a total of 16 rooms, including four kitchens that have been thoughtfully updated. Two of the units were refurbished in 2022, showcasing modern finishes that include stylish tiled showers, elegant Quartz countertops, energy-efficient dishwashers, and contemporary LED lighting. These updates not only enhance the aesthetic appeal of the units but also attract quality tenants who appreciate a well-maintained living space.

While the property does not include a den or additional rooms, it makes up for this with its spacious family room, perfect for communal gatherings or simply relaxing after a long day. Although there is no central vacuum system, the convenience of having four kitchens and four bathrooms ensures that maintenance is manageable. Each unit is unfurnished, allowing tenants the freedom to personalise their living space according to their tastes.

The heating system is a heat pump, providing efficient climate control throughout the year, while the air conditioning is classified as 'other', ensuring that residents can stay comfortable regardless of the season. The property is connected to municipal water and sewer services, which is a significant advantage for any multi-family dwelling.

Parking is another highlight of this Multi-Family Home for sale in Chatham-Kent. The property boasts a private driveway that accommodates up to four vehicles, making it convenient for both tenants and guests. However, it’s worth noting that there is no garage space available, which might be a consideration for some potential buyers.

Situated on a generous lot measuring 50 X 82 feet, this property has ample outdoor space for tenants to enjoy, although it does not feature a pool or a fireplace. The absence of these amenities may be a drawback for some, but the location and the quality of the units more than compensate for it.

Moreover, the neighbouring triplex is also for sale, which opens up exciting possibilities for those looking to invest further in the area. With potential for CMHC financing, savvy investors can explore various options to maximise their investment.

In summary, if you’re on the lookout for a well-located, cashflowing investment, this Multi-Family Home for sale in Chatham-Kent at 50-52 Wellington Street E, Chatham-Kent, should be at the top of your list. With its modern updates, separate utilities, and strong rental income potential, it’s an opportunity not to be missed. Don’t hesitate to reach out for more information or to arrange a viewing – this property is sure to attract attention!

Chatham, located in the heart of Chatham-Kent, is a charming town that beautifully blends historical significance with modern conveniences. Nestled along the banks of the Thames River, it boasts picturesque parks and scenic waterfronts, making it ideal for outdoor enthusiasts. The town features a vibrant downtown area filled with unique shops, local eateries, and cultural attractions, including museums and galleries that celebrate its rich heritage. With a strong sense of community spirit and a welcoming atmosphere, Chatham offers a balanced lifestyle, combining the tranquillity of small-town living with easy access to urban amenities. Whether you're drawn to its lush green spaces or its engaging local events, Chatham is a delightful place to call home.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. The closest school is Queen Elizabeth II Public School, an elementary institution offering grades FDK to 8, situated just 1.0 km away. It is part of the Lambton Kent District School Board and has a school rating of 3.1. For secondary education, Chatham Kent Secondary School is only 2.3 km from the property, providing grades 9 to 12 with a commendable rating of 4.3. Additionally, McNaughton Avenue Public School, another elementary option, is 2.5 km away and offers a French language curriculum, boasting an impressive rating of 5.1. There is also Monsignor Uyen Catholic School, a Catholic elementary school located 3.5 km from the property, although it currently holds a rating of 0. Overall, the area is well-served by a variety of public and Catholic schools, offering both English and French language programs, ensuring that families have access to quality education options within a short distance from home.

Key Statistics of the Neighbourhood

The area surrounding the property has a small population of 549 residents, with an average household size of 1.9 individuals. The demographic profile indicates an aging population, with an average age of 50.3 years. The average household income stands at $46,400, and a significant portion of the population, 31.2%, is classified as low-income. The housing market reflects an average property price of $264,000, with a notable percentage of residents, 70.41%, identifying as single. Families with children make up 27.27% of households, while renters dominate the housing landscape at 70.18%. The area also has a modest immigrant population of 6.8%. Condominiums represent 14.04% of the housing options available. Educational attainment is relatively low, with only 29.89% of residents holding a college or university degree. Additionally, a substantial 58.62% of the population is not participating in the labor force, indicating potential economic challenges within the community. Overall, this demographic snapshot highlights a community characterized by a mix of single individuals, a significant rental market, and a mature population, alongside economic and educational challenges.