48 - 50 LORNE AVENUE
Central Lakes · N7M1R9
$425,000
About this residence
Opportunity Knocks at the Corner of Lorne & Raleigh! Welcome to this rarely offered fourplex in the heart of Chatham, perfectly situated on a prominent corner lot at Lorne Ave and Raleigh St. This fully detached building features four self-contained residential units, offering immediate income with room to grow. This is an excellent opportunity for investors looking to add value through future updates and exploration of the property's long-term potential. Zoned appropriately for multi-residential use, this property invites the next owner to bring their vision and capitalize on a solid, income-generating asset. Located close to schools, parks, transit, and just minutes from downtown Chatham. Don't miss your chance to secure a multi-unit property with strong upside in a growing community. (id:61366)
Property details
- Property type
- Multi-family
- Style
- Fourplex
- Bedrooms
- 6 (6 above)
- Bathrooms
- 4
- Storeys
- 2
- Living area
- 2,000–2,500 sq ft
- Lot size
- 73.3 x 94.5 FT
- Frontage
- 73.3 feet
- Parking
- 1 spaces
- Annual tax
- $3,394
- MLS®
- X12128313
- Board
- Central Lakes
- Status
- Inactive
- Listed
- May 6, 2025
- Updated
- Oct 23, 2025
Room dimensions
| Room | Level | Dimensions |
|---|---|---|
| Kitchen | Second level | 2.85 × 3 m |
| Bedroom 2 | Ground level | 3.46 × 2.15 m |
| Bathroom | Ground level | 2.32 × 2.37 m |
| Kitchen | Ground level | 2.39 × 2.21 m |
| Living room | Ground level | 3.66 × 5.05 m |
| Kitchen | Ground level | 3.92 × 3.12 m |
| Bathroom | Ground level | 1.6 × 2.06 m |
| Bedroom | Second level | 4.26 × 1.57 m |
| Bedroom 2 | Second level | 3.33 × 2.48 m |
| Bathroom | Second level | 1.62 × 2.59 m |
| Bedroom | Ground level | 1.93 × 2.18 m |
| Bedroom | Second level | 4.37 × 3.95 m |
| Living room | Ground level | 3.15 × 1.78 m |
| Living room | Ground level | 3.98 × 3.96 m |
| Kitchen | Ground level | 3.94 × 3.08 m |
| Bathroom | Ground level | 1.67 × 2.38 m |
| Bedroom | Ground level | 4.2 × 1 m |
| Living room | Second level | 3.08 × 4.21 m |
Features & finishes
Appliances
- Refrigerator
- Stove
Flooring
- Hardwood
- Tile
Heating
- Forced air
- Natural gas
Basement
- Crawl space
Exterior
- Brick
Foundation
- Concrete
Parking
- No Garage
Sewer & Utilities
- Sanitary sewer
Financing
Estimated monthly payment
$1,988/mo
Loan amount
$340,000
Down payment
$85,000
Estimate only. Rates and terms vary by lender and qualification.
Powered by Lenderoo.caLocation & area
Central Lakes
Nearby
About the area
Census · N7M- 25,579
- Population
- 44
- Median age
- $71,000
- Median income
- $348,000
- Median home value
- 67%
- Home ownership
- 18 min
- Avg. commute
Age distribution
Tenure
Neighbourhood statistics for the property’s forward sortation area. Figures are census-derived estimates.
Powered by Neighbourly.ioFrequently asked questions
What is the asking price for 48 - 50 LORNE AVENUE?
48 - 50 LORNE AVENUE is listed for $425,000, in Central Lakes.
How many bedrooms and bathrooms does 48 - 50 LORNE AVENUE have?
It offers 6 bedrooms and 4 bathrooms.
What type of home is 48 - 50 LORNE AVENUE?
48 - 50 LORNE AVENUE is a Multi-family, Fourplex set over 2 storeys.
How large is 48 - 50 LORNE AVENUE?
The home offers approximately 2,000–2,500 sq ft of living space on a lot measuring 73.3 x 94.5 FT.
What would the monthly mortgage payment be?
With a 20% down payment at a 5.0% interest rate over a 25-year amortization, the estimated monthly payment is about $1,988. Use the mortgage calculator above to model your own scenario.
What are the annual property taxes?
Property taxes are approximately $3,394 per year.
Is there parking?
Yes — 48 - 50 LORNE AVENUE includes 1 parking space.
What is the Central Lakes area like?
Central Lakes has a population of about 25,579, a median age of 44, a 67% home-ownership rate, with an average commute of about 18 minutes.
What is the average home value in Central Lakes?
The median dwelling value in this area is approximately $348,000, based on census data via Neighbourly.
What is the median household income in Central Lakes?
The median household income in this area is approximately $71,000.
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