22 Cross Street Chatham, ON

This investment property presents a compelling opportunity with strong potential returns. This property offers a one-bedroom unit with a projected rent of $1,350 and a two-bedroom unit projected at $1,750 plus utilities. With a list price of $369,000, the projected cap rate stands over a solid 10% after accounting for insurance and property taxes. Notably, the property is vacant and ready for new tenancy, allowing a new owner to present immediate occupancy without downtime. Typically, properties at this return level require substantial renovations; however, this property has been extensively updated. Electrical work is completely brand new, including complete rewiring, a separate meter and panel-based setup, updated overhead service, and all new electrical components. All ESA inspections have been completed, and the property is equipped with two water tanks, two furnaces, two gas meters and two water meters. In summary, the property is move-in ready or ready for tenancy with existing high-return potential. What are you waiting for? Don't miss out on this amazing cash flow opportunity! (id:4555)