Looking for a cheap property you can turn into a rental?
Lots of square footage in this CHEAP century home! Can you convert into two above-ground units? Buy, renovate, rent, and refinance out of the new appraised value. Rent the garage too! Similar properties (unrenovated) are selling in the high $400s. Or maybe you can make this beautiful and Fix & Flip it for over $600,000.
SUMMARY:
– LOCATION: Belleville, ON (Dundas & Pinnacle)
– PURCHASE PRICE: $309,900 Or Best Offer
– AFTER REPAIR VALUE: $500s and maybe $600s
– AS-IS VALUE: In the $400s. You won’t find many nearby big houses with a garage for under $400k.
– CLOSING: July 26, 2023 (This is an assignment sale.)
– TYPE: 2 Storey Detached House
– BEDS/BATHS: 5 Beds/2 Baths
– PARKING: 4 Car Garage in Backyard Plus 2 Driveway Spaces
– BASEMENT: Basement / Crawl Space Combo (6’2″ and 4′ heights)
– SQFT: 2323 sq. ft.
– LOT: 40′ x 96′ (widens to 59′ at back)
– AGE: 1877
– ZONING: R4 (Allows up to triplex if other criteria are met. Buyer to explore.)
– PROPERTY TAX: $3600/year
RENOVATIONS NEEDED:
– New kitchen, baths, etc.
– Needs new windows and doors.
– Needs plumbing upgrade.
– Waterproofing would be a good idea. Old house with old crawl space.
– Potential foundation repair from sneaky tree roots.
– Flooring is original and slanted.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– 220 amp breakers
– This is cheap enough to throw on your line of credit.
– 2323 sqft is plenty of space to divide this into a duplex with two above-grade units.
– A big house with a big garage for cheap!
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,
Josea Paul, Myra Afidchao, Aaron Moore & Tomomi Wang647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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