20 & 22 2nd Street SE, Arran-Elderslie, ON N0G 1L0

About this property

Unique Triplex Investment Opportunity in Chesley! Offering over 3,600 square feet of residential living space, this property features two one-bedroom apartments on the main floor and a spacious four-bedroom apartment occupying the entire second floor. The four-bedroom unit offers approximately 1,824 square feet, including a large kitchen, hardwood flooring in several rooms and a natural gas boiler installed in 2022. Previously owner-occupied, this apartment is now vacant, offering an opportunity to live in one unit while the other two help pay your mortgage, or rent all three units for additional income. The two one-bedroom apartments are occupied by long-term tenants, currently generating approximately $20,760 annually in gross rental income. With an estimated rental potential of $1,800 per month plus utilities for the vacant four-bedroom apartment, the property could generate approximately $42,360 in annual gross residential rental income. Each apartment has its own laundry facilities, and the building has benefited from numerous updates over the years. Adding to the property's possibilities is a massive attached former creamery offering multiple levels of garage, workshop and storage space, with potential for additional rental income. The property also features an attached carport, additional parking and a treed backyard overlooking the Saugeen River. An interesting opportunity for investors or buyers looking to offset their mortgage with rental income.

Property facts & features

Property type

Triplex

MLS® number

X13885394

Source status

New

Bedrooms

6

Bathrooms

3

Reported interior area

Not provided

Neighbourhood

Not provided

Postal code

N0G 1L0

Parking spaces

4

Garage

Attached

Lot depth (source units)

133

Annual property tax

5746

Basement

Unfinished, Walk-Out

Laundry

Not provided

Interior features

None

Exterior features

Not provided

Values and units are reported by the listing source. Verify measurements and fees with the brokerage.

Floor plans & room measurements

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Property value & listing history

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Location & neighbourhood

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