54 WELLINGTON STREET East,Chatham - $599,900 - Directions

Turnkey fourplex in central Chatham with solid cash flow, recent upgrades, and reliable, clean tenants. This fully legal, purpose-built property offers four units total — 2 × 2-bed and 2 × 1-bed — each with separate hydro meters and strong tenant appeal. The building was renovated in 2020, including updates to interiors, roof, plumbing, and electrical, and has been well maintained since. Three of the four units are in clean, move-in condition, while one unit may benefit from light cleanup. There's also a common laundry area for tenant use. Current monthly rental income is $4,924 ($59,088 annually), with all units occupied and separately metered for hydro. Rent increases effective Oct. 2025 bringing total monthly rent to $5,046. Ideal for investors seeking a stabilized asset with upside and minimal capital outlay. (id:4555)