162 Park STREET
Chatham, Ontario
MLS® 26026413
$589,900
- Status
- Active
- Property type
- Multi-family
- MLS® number
- 26026413
- Bedrooms
- —
- Bathrooms
- —
- Year built
- 1945
1 / 43Listing description
Presenting an exceptional turnkey investment opportunity featuring a cash-flowing fourplex with a rare all-main-floor layout and grade-entrance accessibility. The property consists of four two-bedroom, one-bathroom units with separately metered hydro. Three units are occupied by reliable tenants who have a proven track record of on-time payments.
These tenants moved in 2023, so rental rates are locked at near current market levels. The fourth unit has been freshly updated and is vacant, offering an immediate opportunity to place a high-quality tenant of your choice at market rent. On-site coin operated laundry provides an additonal income stream and the rental contract is transferable.
The boiler was replaced in 2017, taking care of a major capital expenditure. Repairs were completed on the low-sloping roof in 2026 and there is room for 5-6 parking spots. With a cap rate of approximately 7%, this asset delivers predictable, high-yield performance.
Call today for more information and schedule your private walkthrough.
Property summary
- MLS® number
- 26026413
- Property type
- Multi-family
- Building type
- Fourplex
- Title
- Freehold
- Land size
- X / 0.19 AC
- Built in
- 1945
- Annual property taxes
- $3,878.94
- Parking
- Other
- Days on market
- 1 day
Features & details
- Heating
- Boiler, Natural gas, Ductless
- Flooring
- Ceramic/Porcelain, Cushion/Lino/Vinyl
- Exterior features
- Stucco, Aluminum/Vinyl
What would this home cost you?
Based on the $589,900 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of ROYAL LEPAGE PEIFER REALTY, Brokerage, CHATHAM.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.