Who wants to buy this 4-Plex for $570k instead of the $900,000 comparables?
We can help you get short term financing to give you time to raise some rents and increase the building’s value.
Buy this legal 4-plex for almost $400k less than comparables! Great opportunity for owner-occupant to move into one unit and rent three others. Or an investor to use as a fourplex, of course! (One unit is already vacant, three units are month-to-month.) Backs onto greenspace and Brantford hiking trail.
– LOCATION: Brantford, ON (Erie Ave & Birkett Ln)
– NEW BUY NOW PRICE: $569,900 Or Best Offer. ($100K PRICE REDUCTION!)
– AFTER REPAIR VALUE: Two other 4-plexes on the street with low rents sold around $950k earlier this year, when the market was hotter. One with better rents (but still under market) sold for $1.01M.
– QUICK CLOSING: December 22, 2022 (This is an assignment sale.)
– TYPE: Legal Fourplex (Purpose Built)
– BEDS/BATHS: Each unit has 2 beds/1 bath.
– PARKING: 10 spots
– BASEMENT: Unfinished with laundry and storage units for all tenants
– SQFT: 3656 sq. ft.
– LOT: 80′ x 106′
– AGE: 1965
– PROPERTY TAX: $3200
– RENTAL INCOME: Three units are occupied at $686, $724, and $904 (totalling $2314/month). One unit is vacant. Market rents are around $1500 for 2 bedroom units.
– Needs a foundation repair and a contractor is already lined up to fix it in December.
– Most units need updates.
– Renovations have been started on the vacant unit, but won’t be complete. Some flooring and painting are on the go.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
– Less than $150k/unit.
– Other 4-plexes on the street have sold for HUNDREDS OF THOUSANDS more, with similar rents.
– Current property manager would probably be thrilled to stay on, if you like.
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
PS. Get notified of only the deals you are interested in by telling us your areas of interest. We notify you by email based on the geography you want. PUSH HERE to get the deals you want: https://www.housedealsgta.ca/preferred-buyers/