Turn this fixer upper into a stunner for a family (or two!) to love and enjoy! Lots of room to add value. Walking distance to the Auditorium, schools, parks, highway and downtown Kitchener. Bus stop directly across the street.
How can you profit?
1) Fix & Flip: Buy for $479k, renovate and flip in the mid to high $600s at least as a single family home. More if you finish the basement or convert to 2 units!
2) BRRRR/Duplex Conversion: R2 zoning makes conversion easy peasy! Increase value significantly by adding a second unit. Ask for the $800k 2 unit comps.
SUMMARY:
– LOCATION: Kitchener, ON (Conestoga Pkwy and Ottawa St. N)
– PURCHASE PRICE: $479,900 Or Best Offer
– AFTER REPAIR VALUE: $650k++ as a single family. 2 unit houses are pushing well into the $700s/$800s!
– CLOSING: June 5, 2024 (This is an assignment sale.)
– TYPE: 1.5 Storey Detached
– BEDS/BATHS: 3 Beds/1 Bath
– PARKING: 3 Driveway Spaces (Tandem) Plus 1 Car Detached Garage (Landlords…consider renting garage out separately for extra income)
– BASEMENT: Unfinished with Laundry / Separate Entrance
– SQFT: 1097
– LOT: 45’ x 120’
– AGE: 1950
– PROPERTY TAX: $3054 in 2023
– POSSESSION: Vacant
RENOVATIONS NEEDED:
– Full cosmetic update inside (kitchen, bath, flooring, paint)
– Some drywall, door and door frame repair or replacements
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– R2 zoning for easy duplex conversion
– Brand new steel roof
– Fun bonus features in large backyard like stone oven and above ground pool
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, Aaron Moore & Tomomi Wang
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors