$699,900
FOR SALE

Investment

Lot: 70 x 108 ftTotal Area: 2,800 ft2
2024 Taxes: $2,101.83

131 Margaret Ave
Chatham-Kent, ON N8A 282 | Wallaceburg

Value Add Opportunity! 6 units in the heart of Wallaceburg. 131 Margaret Ave is situated across from the Sydenham River with river views from the upper units. 3 units have been recently renovated from top to bottom allowing you to receive market rents while you renovate others. There is significant upside to be had! A lot of expensive updates have been done already including a brand new roof and sheeting, ductless heat/AC in renovated units, new kitchens with stainless steel appliances, new bathrooms, LVP flooring and extensive brick work. 7 panels and meters allow for tenants to pay for their own hydro separately. 3 units are in need of a renovation (1 vacant, 2 tenanted). Gas expenses can be reduced or eliminated with adding ductless heat/AC to unrenovated units. Priced to sell!
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Listed By REAL BROKER ONTARIO LTD
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X8285962
Last Updated May 01, 2024
Property Summary
Property Type Investment

More like this:
PIN 005600047
Legal Description PT LT 30, 40 PL 117; PT PELLEW ST PL 117 CLOSED BY WA12852, AS IN 603739 EXCEPT THE EASEMENT THEREIN MUNICIPALITY CHATHAM-KENT
Occupancy Tenant
Possession Date Flexible
Taxes (2024) $2,101.83
Assessment (2024) $120,000
Directions/Cross Streets Main
Neighbourhood Wallaceburg
Area Chatham-Kent
Price History

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Detailed Information
Bathrooms 6
Lot 70 x 108 ft
Total Area 2,800 ft2
Air Conditioning Other
Basement Y
Garage Type Outside/Surface
Parking Spaces 4
Heat Type Heat Pump
Net Income Before Debt $47,275
Hydro Expense $5,005
Heat Expenses $3,416
Insurance Expense $3,341
Operating Expenses $17,818
Expenses Actual/Estimated Act
Sewers Sewers
Water Municipal
Zoning R4
Seller Property Info Statement Y

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