201 GRAND AVENUE West

About this residence

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:61366)