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$3,999,900
Est. payment /mo
18 Baths
25,395 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 25,395 sqft
Price per Sqft $157
Subdivision Chatham-Kent
MLS Listing ID X12046655
Annual Tax Amount $15,389
Tax Year 2024
Property Sub-Type Investment
Lot Depth 195.02
Lot Front 165.15
Property Description
Newly built and inspected in 2022, this exceptional multi-residential investment property offers 12 residential units, plus a management-use studio apartment and a separate coin laundry facility that generates additional income. The property features 18 regular parking spaces plus 2 handicapped spaces, and is almost fully occupied with long-term tenants, providing a strong cap rate. The unit mix includes three one-bedroom, one-bath units, four two-bedroom, one-bath units, one two-bedroom, one-bath unit with a den, and four three-bedroom, two-bath units. Recently upgraded throughout, the building showcases high-quality construction and modern updates including new windows, HVAC systems, roofing, plumbing, security system, Wi-Fi, pot lights, updated electrical with individual hydro meters, 400-amp service, fire-coated soundproofing, and more. The property is pet-friendly, non-smoking, and fire-code compliant. Zoned Urban Commercial, this meticulously maintained building is ideally located in a mixed-use area surrounded by multi-residential developments, mature residential neighborhoods, and commercial properties. Situated just west of Erie Street North, Ridgetown's main north-west arterial road, this is a rare opportunity to own a turn-key, income-generating asset in a growing community.
Location
Province ON
County Chatham-kent
Community Chatham-Kent
Area Chatham-Kent
Zoning Commercial
Interior
Cooling Yes
Inclusions All equipment, chattels, and fixtures are included in the purchase price. A complete list of owned items is available upon request.
Exterior
Utilities Available Available
Lot Frontage 165.15
Lot Depth 195.02
Others
Security Features Yes
Virtual Tour https://drive.google.com/file/d/1subLPes8Z_-39drewP36VHDKcEjfvDoN/view
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Listed by HOMELIFE/MIRACLE REALTY LTD