Who’s looking for a profitable property?
This 1,310sf 2-storey detached has all the makings of a great multi-unit conversion! Needs a cosmetic rehab throughout, but already has a self-contained unit on the top floor, with its own kitchen and bath, a large foyer for unit separation, and a separate-entrance to the partially finished full-height basement with a bathroom. (Buyer to verify zoning and permitting)
The property also has some great upgrades, like a newer furnace and AC and a new 200 amp panel.
It’s commercial adjacent but also a walkable spot with transit connections that make it easy to get to Toronto. Parking is a bonus too: a 1-car garage plus room for 4 in the driveway. Restore it to a single family home for the flip, or run it as a multi-unit!
How can you profit?
1) Multi-Unit Conversion – With 1-bed flats renting to $1,450-$1,650 and separate entrance basement in place, a duplex or triplex conversion is worth considering! Buy for $399K, finish the main floor and basement as the second unit, pull in as much as $4,350 in combined monthly rental income! (Buyer to verify zoning and permitting)
2) SFH Flip – Buy at $399K, remove the upper kitchen, give the whole house a cosmetic refresh and sell for $600K! No need to break the bank on expensive finishes, even modestly finished homes (commercial adjacent) have sold for $610K+!
3) House Hack – With 1-bed flats renting to $1,450-$1,650, buyer for $399K, refresh the upstairs unit and expand the downstairs bath for yourself, then let the tenant pay part of the mortgage or for further renovations!
4) Realtors: Bring Your Clients – Don’t let your flippers, landlords and handy end users miss out on this one – 2.5% Co-Op included at $411K!
SUMMARY:
– LOCATION: Kitchener, ON (SW of King St E & Conestoga Pkwy)
– PURCHASE PRICE: $411,000 (Includes 2.5%+HST Co-Op)
– DIRECT BUYER PRICE: $399,000 Or Best Offer
– AFTER REPAIR VALUE: $600,000
– CLOSING: January 8, 2027 (Some flexibility. This is an assignment sale.)
– TYPE: 2-Storey Detached
– BEDS/BATHS: 3 beds / 1.5 baths (3rd bed currently second floor kitchen)
– PARKING: 1-car attached garage + 4 driveway spaces
– BASEMENT: Partially finished, half bath, side entrance, 79” ceiling (seller measured)
– SQFT: 1,310
– LOT: 43′ x 100′
– AGE: 1937
– PROPERTY TAX: $3,365 (2025)
– POSSESSION: Vacant on closing
– POTENTIAL RENT: Est. $3,500-$4,500/month (with duplex or triplex conversion)
RENOVATIONS NEEDED:
– Cosmetic rehab of kitchens and baths, finishes, fixtures and flooring.
– Duplex/Triplex: finish basement, install kitchen and add / expand bath
– Single family flip: remove the upper floor kitchen.
– Roof and windows age unknown, but no indications of failure.
– Some junk and furniture removal.
– Heads up: the property faces a parking lot, but has been comped with other commercial adjacent properties.
– Please view the pictures and videos for ideas on what you’d like to renovate.
LISTING ID: 1026-KIT-F02
GOOD NEWS:
– Two kitchens already installed!
– Furnace & AC approx. 2 years old
– Electrical: 200 amp panel just replaced
– Exterior doors relatively new and in good condition
– Top floor is already a self-contained unit with its own kitchen and bathroom
– Side entrance to the basement, which already has a half bath
– Parking for 5: 1-car garage plus 4 in the driveway
– Walkable location with transit connections and an easy commute to Toronto
Please let us know if you want to view it or if you want the info package. (Comparable solds, MPAC info, and more…)
Thank you,
Aaron Moore, Tobias King & Georgia Godfrey
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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