Got an itch to explore ADUs in 2023?
Ken Bekendam of www.legalsecondsuites.com looked into this property and told us that it is zoned R1 and would permit up to 3 units total. It would allow a “Second Suite” in the basement as well as a “Detached Accessory Dwelling Unit” in the backyard. We have plenty of space and room to work with, so no minor variances would be required.
Reasons to look at this one:
– Lots of parking!
– Separate entrance and good basement ceiling height to add a second unit.
– Huge lot to add a garden suite / third unit.
Your TLC will turn this house into a beautiful home that a family will be proud to show off! This large, awesome bungalow is on a quiet street with no neighbours behind in the south end of Barrie. Close to restaurants, schools, shopping, and the 400. If you’re the outdoorsy type, there are plenty of nearby parks and trails to explore! Centennial Beach is a short drive away.
How can you profit?
1) Capitalize on the HUGE UPSIDE to turn this single family home into 3 potential units over time. One of our partners had One of our partners had a duplex with garden suite appraise at $1.28M, in nearby Orillia.
2) Buy for $587k, renovate, and flip for at least $800k. But some comps imply you could get much higher.
– LOCATION: Barrie, ON (Big Bay Pt & Dodson)
– PURCHASE PRICE: $586,900 Or Best Offer
– AFTER REPAIR VALUE: Unrenovated properties are in the $750k-$800k range. Renovated properties are selling well into the $800s. Ask us to see the “Million Dollar Listing” that may inspire your renovations!
– QUICK CLOSING: January 16, 2023 to February 16, 2023. Seller will select exact date with 2 weeks notice (This is an assignment sale.)
– TYPE: Detached Bungalow
– BEDS/BATHS: 4+1 Beds / 1.5 Baths
– PARKING: 1 car garage plus 6+ spaces on a double paved driveway
– BASEMENT: Separate entrance to 1 Bed/1 Bath
– SQFT: 1414 sq. ft. main floor. (Big for a bungalow!) 1052 sq. ft. basement.
– HUGE LOT! 73′ x 171′
– AGE: 1975
– PROPERTY TAX: $4,317
– Kitchen and bathrooms were renovated in the past 5 years. They’re nice, but renovated to a unique taste. You may want to do cosmetic updates to kitchen, baths, flooring, etc.
– The house still has some aluminum wiring.
– Needs new eaves troughs.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
– Immense future potential for this to be a real money maker.
– Potential duplex or triplex with garden suite.
– Furnace 3 years new.
Please let us know if you want to view it or if you want us to email you the info package. (Comparable sales, MPAC info, and more…)
Aaron Moore, Tomomi Wang & Josea Paul
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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