146 PARK STREET, Chatham, Ontario

About This Property

Attention investors and renovators! Opportunity awaits with this vacant Victorian-style fourplex located in Chatham offering strong income potential and the ability for a new owner to set their own market rents. With projected gross annual income potential of $60,000+ once completed and rented, this property presents an excellent value-add opportunity. The building features four self-contained units, each with separate entrances, including a desirable unit mix of two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units. Full of character and architectural charm, this Victorian-style property offers excellent potential for investors looking to restore and improve a unique multi-family asset while building equity through renovations. Several important updates have already been completed while still leaving room for improvement inside and out. Most windows have been replaced throughout with others on site ready to install, and both 1-bedroom units feature updated bathrooms, flooring and drywall. The main floor 1-bedroom apartment is approximately 80% completed, allowing the next owner to finish to their own standards and vision. All materials currently on site and already purchased will be included with the sale, providing added value and convenience for ongoing work. Additional features include separate hydro meters for each unit, a durable steel roof, and parking for up to 6 vehicles. With all units currently vacant, this is a rare opportunity for investors to complete renovations and maximize rental income from day one without existing tenant limitations. A fantastic opportunity to own a character-filled multi-family property with strong upside potential in a growing rental market.