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$454,900
Chatham
27 & 31 Wade Street, Chatham, Ontario, N7M3T6
This multi-family property in Chatham is for sale. It has been on the market 56 days, fresher than the Chatham average of 77 days.
Investment & Development Opportunity in the City of Chatham! This offering includes 27 & 31 Wade Street, comprising two separate ARNs (365042000510400 and 365042000510500) situated on a single PIN, with potential to sever, subject to completion of a Phase 2 Environmental assessment and all required approvals. The property includes a triplex with 2 of 3 units currently rented, providing immediate income potential. The main building features a total of 4 bedrooms, 3 full bathrooms and 3 kitchens. A large secondary structure is also included, offering significant additional space with potential for a variety of uses, storage, redevelopment or other opportunities, subject to municipal approvals and applicable regulations. Whether you're looking to add to your investment portfolio or explore the property's future development potential, this package offers a unique opportunity in the City of Chatham. 24 hours' notice is required for all showings of tenanted units. Property is being sold “as is, where is.” Buyer to conduct their own due diligence and verify all information relating to zoning, permitted uses, building requirements, environmental matters, severance potential, and any current or future use of both buildings. (id:66096)
Features and services as supplied by the listing brokerage.
Long Listed: 56 days on market, against an average age of 77 days across the listings currently for sale in this city
This multi-family in Chatham has been listed for 56 days, which is 21 days fresher than the city average of 77. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $454,900, about 6.4× the local median household income of $71,000.
Carrying it typically needs a household income of about $88,858 (20% down, 25-yr amortization, stress-tested) — roughly 25% above the area median.
Source: Statistics Canada, 2021 Census (FSA N7M)
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Loading rates, 30-yr amortization
Cash Needed to Close
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