GTA condo in the $300s, anyone?
Here’s a unique 2 level condo overlooking a beautiful Brampton ravine. Take your daily coffee out to the big balcony and enjoy the view. Close to schools, walking & bike trails, big box stores, transit, highways 407/410 and Gage Park.
How can you profit?
1) Rent It Out. In the low $300s, this will be a profitable rental right away. Keep your renos fast and easy and start cashing cheques before Christmas.
2) Move In. If you don’t mind the outdated vibe, you can live here as-is. Carry out your cosmetic updates slowly as you see fit. Realtors, we’re paying 2.5% on this deal. Get that buyer-on-a-budget into the market!
3) Easy Flip. It’s a condo, so your renovation expenses are all cosmetic. Sell in the mid to high $400s after repair…maybe more if you do it up nicely.
– LOCATION: Brampton, ON (Hurontario St & Steeles Ave)
– PURCHASE PRICE: $314,900 Or Best Offer
– AFTER REPAIR VALUE: A renovated 2 bed unit sold for $510k in July. But that was just one unit…it would be safer to plan for mid to high $400s.
– CLOSING: Between October 15 and November 15 (Seller will give at least 21 days notice. This is an assignment sale.)
– TYPE: 2 Level Condo Apartment
– BEDS/BATHS: 2 Beds Plus Bonus Room. (Some units use it as a small nursery or office. Currently being used for storage.) 1 Bath.
– PARKING: 1 Indoor
– SQFT: 1153 sq. ft. (per seller)
– AGE: 1965
– CONDO FEES: $723/month (includes water & heat)
– PROPERTY TAX: $2676 in 2021
– Cosmetic updates to kitchen, bath, flooring.
– Some plaster/drywall repair and a paint job.
– Some junk and furniture removal.
– Please view the pictures for ideas on what you’d like to renovate.
– Realtors: long closing means lots of time for your client to arrange bank financing. We know it’s hard sometimes to get your clients into the assignments with quick closings. Not this time!
– Awesome view of the ravine.
– “Bonus” room…get creative and use your imagination with this extra space!
– Water and heat included in condo fees.
Please let us know if you want to view it or if you want the info package. (Comparable solds, MPAC info, and more…)
Aaron Moore, Tomomi Wang & Josea Paul
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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