241 GRAND AVENUE E, Chatham-Kent (Chatham)

$1,200,000

For sale: Multiplex

Multiplex at 241 GRAND AVENUE E, Chatham-Kent (Chatham)
Property type
Investment
MLS®
MLS® X13873574
Neighbourhood
Chatham

Well-maintained mixed-use investment property on a corner lot along Grand Ave E in Chatham, offered together with an additional HC1-zoned lot. The building has ten units in total, with eight renovated residential suites and two street-front commercial spaces. Extensive updates have been completed over the years, including the roof, windows, siding, electrical, plumbing and water heater, along with renovated kitchens, washrooms and flooring throughout the residential units. Hydro is separately metered with tenants paying their own, and there is room to grow income over time. The additional lot currently serves as parking for the commercial units and offers potential for future development. A solid opportunity for investors looking for steady income with upside.

Sold data

Homes in Chatham — recent sold market

Homes in Chatham took a median of 34 days to sell over the last 365 days, with the quickest quarter selling within 17 days and the slowest quarter taking more than 71, across 30 recorded sales.

That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 38 days.

The median sale price was $319,500.

Homes sold for about 5.5% below asking on average, so there was room to negotiate.

About 7% of sales closed above the list price.

Around 33% of sellers reduced their price before finding a buyer.

Median days to sell
35
Median sale price
$319,500
Sale-to-list ratio
94.5%
Sold above asking
7%

Based on 30 recorded sales in the last 1 year — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.

Currently for sale

Homes for sale near 241 GRAND AVENUE E