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Investment signal

$284,900

41 ADELAIDE STREET S

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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

A rare value-add triplex in a centrally located CBD-zoned area, offering immediate income, strong upside, and future flexibility. This is an ideal opportunity for investors looking to reposition a multi-unit asset and force appreciation through renovations and rent optimization. The property consists of three self-contained units. One unit is currently tenanted, generating $850/month plus gas and hydro, providing in-place income from day one. The remaining two units are vacant and ready for renovation, including a one-bedroom and a two-bedroom suite. Both units present a clear opportunity to add value through updates and modernization, with strong upside once stabilized. The property is well-structured for investment efficiency with separate hydro and gas meters, allowing tenants to pay their own gas and hydro, while the landlord is responsible only for water. Each unit is serviced by its own gas furnace and dedicated electrical breaker panel, supporting independent utility control and ease of management. On-site parking is available for all units. Located close to downtown amenities and within CBD zoning, the property offers additional flexibility and long-term redevelopment potential beyond its current use. The property is being sold as-is, making it a strong fit for investors seeking a straightforward value-add opportunity with clear upside through repositioning. (id:65958)

Subtype: Multi-family
Structure: Triplex
Community: Chatham
Lot dimensions: 56.5 x 104.9 FT
Bedrooms: 4 above grade
Parking: 3 total
Stories: 2
On market: Apr 23, 2026
Status changed: Apr 23, 2026
Annual tax: $2,337
Photos: 5
MLS#: X13037228
Area: CHATHAM-KENT_(CHATHAM)

Features and systems

Parking

No Garage

Basement

None

Appliances

RefrigeratorStove

Heating

Forced airNatural gas

Cooling

None

Exterior

Brick

Foundation

StoneBrick

Positive cash flow ~$1,033/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

21.76%

Cap rate

9.22%

GRM

8.2

Break-even rent

$1,812

Financing

Down payment$56,980

Loan amount$227,920

Mortgage$1,155/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$131

Insurance$80

Maintenance$237

CapEx reserve$119

Vacancy loss$145

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 $1,155/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 23, 2026.