Newly built and inspected in 2022, this exceptional multi-residential investment property offers 12 residential units, plus a management-use studio apartment and a separate coin laundry facility that generates additional income. The property features 18 regular parking spaces plus 2 handicapped spaces, and is almost fully occupied with long-term tenants, providing a strong cap rate. The unit mix includes three one-bedroom, one-bath units, four two-bedroom, one-bath units, one two-bedroom, one-bath unit with a den, and four three-bedroom, two-bath units. Recently upgraded throughout, the building showcases high-quality construction and modern updates including new windows, HVAC systems, roofing, plumbing, security system, Wi-Fi, pot lights, updated electrical with individual hydro meters, 400-amp service, fire-coated soundproofing, and more. The property is pet-friendly, non-smoking, and fire-code compliant. Zoned Urban Commercial, this meticulously maintained building is ideally located in a mixed-use area surrounded by multi-residential developments, mature residential neighborhoods, and commercial properties. Situated just west of Erie Street North, Ridgetown's main north-west arterial road, this is a rare opportunity to own a turn-key, income-generating asset in a growing community. (id:60365)
BusinessType | Residential |
BusinessSubType | Apartments |
Name | 8 York Street |
MLS® Number | X12046655 |
Property Type | Multi-family |
Community Name | Chatham-Kent |
BathroomTotal | 18 |
CoolingType | Fully Air Conditioned |
HeatingFuel | Electric |
HeatingType | Forced Air |
SizeExterior | 25395 Sqft |
SizeInterior | 25395 Sqft |
Type | Multi-family |
UtilityWater | Municipal Water |
Acreage | No |
SizeDepth | 195 Ft |
SizeFrontage | 165 Ft ,1 In |
SizeIrregular | Bldg=165.15 X 195.02 Ft |
SizeTotalText | Bldg=165.15 X 195.02 Ft |
ZoningDescription | Commercial |
https://www.realtor.ca/real-estate/28085810/8-12-york-street-chatham-kent-chatham-kent
Shawn Sehgal
Broker
Rishi Sehgal
Broker