Here are the top reasons why this is a good buy:
- The current owner paid WAY MORE than your price.
- Cheapest condo currently on the market in Central Toronto.
- Brand new building and this unit has never been lived in.
- Studios like this have a better purchase price to rent ratio than other condos. Rent it for around $2000.
- Direct subway/LRT access from the lobby is coming soon.
- Prices are rising. The best time to buy was a couple months ago, the next best time to buy is now.
How can you profit?
1) Hold & Rent: Market rents are around $2000/month. Since the building closed recently there were many rentals available and that lowered prices. They’ve rented for $1750-$2100. You get vacant possession and can get the AAA tenant of your choice.
2) Move In: Your monthly mortgage payment is about the same cost as renting this unit…but you’d walk away owning something instead of paying someone else’s bills!
SUMMARY:
– LOCATION: Toronto, ON (Bathurst St & Eglinton Ave W)
– PURCHASE PRICE: Only $388,800
– CURRENT AS-IS VALUE: $410-$430k
– CLOSING: May 24, 2024 (This is an assignment sale.)
– TYPE: Condo
– BEDS/BATHS: studio/bachelor unit with 1 Bathroom
– PARKING: No parking included
– LOCKER: 1 locker
– SQFT: 355 sqft + balcony
– AGE: 2023 Built – Closed in 2024
– CONDO FEES: $267/month (Includes Bell Internet)
– PROPERTY TAX: Taxes to be assessed. (Approx $1926/year based on MPAC assessment.)
– POSSESSION: Vacant
RENOVATIONS NEEDED:
– This condo is new and in great shape.
– Please view the pictures to see how great it looks.
GOOD NEWS:
– Brand new luxury condo situated in a highly desirable and sought-after location.
– Balcony offers a clear view to the east, filling the space with morning sunlight.
– Direct access to the upcoming Forest Hill LRT station.
– Proximity to Yorkdale Mall, the Allen Expressway, and Highway 401
– Amenities: State of the art fitness centre, yoga area, and CrossFit equipment. 100-person capacity meeting room. An outdoor exercise area with table tennis, outdoor terrace with cabanas & BBQs.
Please reply to this email to request an info package. (Comparable sales, MPAC info, and more…)
Thank you,
Josea Paul, Aaron Moore & Tomomi Wang
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors