Who’s looking for a profitable property?
This is a big house (almost 3000 sq. ft.!) with three separate units and three separate hydro meters on a corner lot. Only 5 minutes from Presqu’ile Provincial Park and 10 minutes to Hwy 401! If you don’t know Brighton, it’s only 1.5 hours from Toronto and between Cobourg & Belleville.
How can you profit?
1) Get $2200/month rent from day one. Market rents for a renovated property of this type are approximately $5000/month. (Ask us for examples of current apartment listings in the area.) As tenants move out you can renovate, raise rents, refinance and hold a profitable property.
2) Politely encourage tenants to move or offer “cash for keys” and then flip!
Realtors! Do you have clients looking for a cheap rental property? Show them this and just add something on top for yourself. We’d love to work with you on this one.
SUMMARY:
– LOCATION: Brighton, ON (Just off the 401 between Cobourg and Belleville. 150 km east of Toronto)
– PURCHASE PRICE: $482,900 Or Best Offer – Sight Unseen Offers Preferred
– AFTER REPAIR VALUE: Mid $500s, but likely much higher once you raise rents with new tenants.
– CLOSING: October 11, 2021 (This is an assignment sale.)
– TYPE: 2 Storey Triplex (Residential with three self-contained units per MPAC)
– BEDS/BATHS: 6 Beds/3 Baths (One 3-bed unit, one 2-bed unit, and one 1-bed unit, each with their own bathroom)
– PARKING: 8 spaces
– SQFT: 2696 sq. ft.
– LOT: 99′ x 114′
– AGE: 1850
– UNDER-MARKET RENTS: Income currently totals $2200/month for all three units. Buyer to assume tenants (vacant possession will not be given). All tenants are month-to-month.
RENOVATIONS NEEDED:
– This house needs some TLC and updating throughout.
– Some junk and furniture removal.
GOOD NEWS:
– 3 separate hydro meters. Two of the units have baseboard heating. The third unit is on HVAC. Easy for tenants to pay their own utilities without arguing over percentages!
– Brand new steel roof
– Some new windows
– The low price means you have extra $$ to entice the tenants to vacate! Then you can renovate and raise the rent.
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…)
Thank you,
Aaron Moore, Tomomi Wang & Josea Paul
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
PS. PUSH HERE to get immediate access to these discounted deals as soon as they are available.
Need Fast Financing?
Calvert Home Mortgage has the ability to finance most of the wholesale price, INCLUDING the assignment fee.
Calvert has options for buying with as low as $20k down, with rates starting at 7.99% and a 2% lender’s fee for 25% down.
No additional broker fees! No appraisal fee! Fully open!
DISCOUNT:
Get $500 off the lender’s fee from Calvert Mortgages if you let them know that you heard about them through House Deals GTA