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Investment signal

$389,000

201 GRAND AVENUE

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Beds

Baths

Sqft

—

Year

—

Type

Multi-family

Suite

Investment signal

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Location nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Chatham-Kent (Chatham). The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

About this home

Rare multi-use corner triplex property in a high-traffic, highly visible location near downtown Chatham Kent Health Alliance Hospital. This property offers two large driveways, approximately 9 parking spaces, multiple income streams, and excellent flexibility for investors, owner-users, or buyers looking for residential and commercial potential. The property includes a one-bedroom corner unit, a one-bedroom upstairs apartment, a commercial unit, a large unfinished basement, and outdoor storage sheds. Current income includes the commercial unit rented for $1,000/month, the upstairs unit rented for $1,425/month, and the fully furnished Airbnb unit generating income potential of up to $1,500-$2,000/month. The Airbnb setup can potentially be taken over as-is, making this a strong turnkey income opportunity.The commercial space is suitable for office use, professional services, retail/service business, beauty/personal service, consulting, or other small business use. The large unfinished basement offers value-add potential for storage, future build-out, workspace, or additional functional space.Approximately $30,000 spent on recent upgrades, including new flooring in the commercial unit, plus an upgraded bathroom in the corner unit. With strong parking, corner exposure, existing income, and future upside, this is a rare opportunity to generate income today while holding a property with long-term potential, including possible affordable rental housing or future redevelopment plans, subject to approvals. (id:65958)

Subtype: Multi-family
Structure: Triplex
Community: Chatham
Lot dimensions: 50 x 102 FT
Bedrooms: 2 above grade
Parking: 6 total
Stories: 2
On market: Apr 27, 2026
Status changed: Apr 27, 2026
Annual tax: $3,800
Photos: 50
MLS#: X13048314
Area: CHATHAM-KENT_(CHATHAM)

Features and systems

Parking

Detached GarageGarage

Basement

UnfinishedN/A

Appliances

WasherTwo stovesWater HeaterTwo Refrigerators

Heating

Forced airNatural gas

Cooling

Central air conditioning

Exterior

BrickBrick Facing

Foundation

Unknown

Lot

Sump Pump

Utilities

SewerElectricity

Negative cash flow ~$469/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)Default 4.5% — adjust to your rate holdAmortization (years)

Cash on cash

-7.23%

Cap rate

3.42%

GRM

16.6

Break-even rent

$2,444

Financing

Down payment$77,800

Loan amount$311,200

Mortgage$1,577/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$178

Insurance$80

Maintenance$324

CapEx reserve$162

Vacancy loss$98

Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.

Mortgage estimate

Estimated $1,577/mo at 4.5% with 20% down, 30-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 27, 2026.