Attention Flippers & Developers! Cheap Fixer Upper in the $200s Available

  • $259900
  • 3 beds
  • 1 baths
  • 905 sqft

Who’s looking for a profitable property? 

Here’s one to really sink your teeth into! This property needs lots of work. You may choose to fix ‘er up, or you may choose to start fresh. Walking distance to grocery, takeout restaurants, LCBO, Home Hardware, etc.

How can you profit?
1) Fix it up and flip it. Buy for $259,900, renovate, make it lovely, and sell for around $500k.
2) Confirm zoning potential with the town, and build a multi unit apartment on the lot. An inquiry has already been made to the municipality to rezone for multi unit residential. A favourable result is not guaranteed, but there is already a low rise apartment building next door. 2 bedroom apartments in buildings currently rent around $1700/month.
3) Single family BRRRR. Buy, renovate, rent, refinance, and repeat by mid 2023!

SUMMARY:
– LOCATION: Smithville/West Lincoln, ON (between Hamilton and St Catharines, just south of Grimsby)
– NEW PURCHASE PRICE ($20K REDUCTION): $259,900 Or Best Offer. First Come, First Served!
– AFTER REPAIR VALUE: Around $500k

– CLOSING: December 15, 2022 (This is an assignment sale.)
– TYPE: Detached Bungalow
– BEDS/BATHS: 3 Beds/1 Bath
– PARKING: Very wide, deep driveway.
– BASEMENT: Crawl space
– SQFT: 905 sq. ft.
– LOT: Wide lot! 50′ frontage x 89′ deep
– AGE: 1950
– PROPERTY TAX: Approx $2050/year

RENOVATIONS NEEDED:
– This house requires major renovations. You may want to do a full gut.
– No appliances included.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.

**Banks may not finance this property due to its state of repair. This property is best suited for a buyer who has alternative financing options available.**

GOOD NEWS:
– Cheap! Cheap! Cheap!
– Potential for multi unit apartment to be built on this lot in the future.

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. 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/

Price:
$259900
Address:
Smithsville / West Lincoln, ON
Square Feet:
905
Lot Size:
Wide lot! 50' frontage x 89'
Bedrooms:
3
Bathrooms:
1
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1950
Basement:
Crawl space

Call (647) 557-5979 for more details