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$1,890,000
Chatham-Kent
77 Erie Street South, Chatham-Kent (Ridgetown), Ontario, N0P2C0
This multi-family property in Chatham-Kent is for sale. It has been on the market 8 days, fresher than the Chatham-Kent average of 96 days.
Located near the University of Guelph, Ridgetown Campus, home to one of the province's leading Vet Tech programs, this property is a regularly fully occupied student rental generating over $200,000 in gross annual revenue. The property features two separate buildings with a total of 18 rental units, offering a unique combination of income, flexibility, and strong rental demand. The main building features 10 bachelor units, each with its own 3-piece bathroom and kitchenette, along with one 1-bedroom unit and a spacious 2-bedroom unit. The second building offers 5 full bathrooms and 6 individual bedrooms. This property also offers ample parking, 6 washer/dryer stations, FOB entry, and a full-size common kitchen. With strong student demand, excellent rental income, and a versatile layout, this is a fantastic opportunity for an investor looking for a turn-key, income-producing property. (id:66096)
Features and services as supplied by the listing brokerage.
Active: 8 days on market, against an average age of 96 days across the listings currently for sale in this city
This multi-family in Chatham-Kent (Ridgetown) has been listed for 8 days, which is 88 days fresher than the city average of 96. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $1,890,000, about 23.6× the local median household income of $80,000.
Carrying it typically needs a household income of about $369,183 (20% down, 25-yr amortization, stress-tested) — roughly 361% above the area median.
Source: Statistics Canada, 2021 Census (FSA N0P)
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