20 & 22 2nd Street SE

About this home

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.

Details

Type

Triplex

Style

2-Storey

Size

3500-5000 sq ft

Lot

103.95 × 133 ft

Basement

Unfinished, Walk-Out

Garage

Attached

Kitchens

3

Property tax

$5,746 (2026)

Neighbourhood

Arran-Elderslie

Municipality

Arran-Elderslie

Interior

Bedrooms

6 above ground

Bathrooms

1 × 4-piece (second), 1 × 4-piece (main), 1 × 4-piece (main)

Rooms

19 above ground

Family room or den

No

Fireplace

No

Heating, cooling and services

Heating

Baseboard, Electric

Water and sewer

Sewer

Building and exterior

Style

2-Storey

Exterior

Vinyl Siding, Brick

Roof

Shingles

Foundation

Stone

Faces

North

Parking

Garage spaces

2

Total parking

4

Lot

Size

103.95 × 133 ft

More

Possession

Flexible

Cross street

1st Ave