Cross Streets: WEST & RICHMOND. ** Directions: WEST BETWEEN LORNE AV & RICHMOND. This triplex offers high rental income and excellent flexibility for investors and owner-occupants alike. The property currently generates $3,260 per month in rental income across all three units, with separate hydro and gas meters for straightforward expense management. The building features three self-contained units, including a spacious 2-bedroom unit and two 1-bedroom units. Unit 1 is a 1-bedroom currently rented for $1,050 per month plus hydro and gas. Unit 2 is a 2-bedroom unit rented for $1,085 per month, inclusive. Unit 3 is a 1-bedroom unit now rented for $1,125 per month plus hydro and gas. Each unit has its own hydro and gas meter, while on-site laundry provides added convenience for tenants. Two of the units have been thoughtfully updated, blending modern finishes with the character of the building. Key mechanical updates include a furnace and hot water tank completed in 2023, along with renovations to Unit 1 in 2024 and Unit 3 in 2023. Unit 3 also received a new entrance in 2025, and the sewer and drain lines have been replaced and lined with CIPP for added long-term peace of mind. The property offers parking for two vehicles and a functional layout that continues to attract quality tenants. With all three units currently rented and a solid rental history, this is an excellent opportunity for an investor looking to add a cash-flowing property to their portfolio or an owner-occupant looking for a multi-unit property with established rental income. Located in Chatham, this triplex offers the income, flexibility and updates that make for a compelling investment opportunity. (id:27476)
