Flippers, here’s your next project.
Buy this detached Toronto bungalow for $599K (that’s $120K UNDER the tax assessed value). With an ARV over $1,000,000, this is a BIG spread for a small project (only 755 sqft).
In this neighbourhood, this is the cheapest detached available in over 10 years!! The last time a house sold in the $500Ks was early 2016 (and that was a fixer upper too)!
The west-end location will be a big selling feature when it comes time to resell. End users will appreciate being close to the Junction, Bloor West Village, and High Park. And you’ve got easy access to the TTC, grocery stores, and schools.
How can you profit?
1) Fix & Flip – This property offers an impressive $400K spread, with top comps showing a $650K spread! A low purchase price means low carrying costs. For flippers who want a small Toronto project with a big upside story, this is a no brainer.
2) BRRRR – Very affordable entry point. Invest in renovations, then benefit from close to a half million in increased value. Once done, rent it for $3K/month and help offset the cost of the property.
3) Realtors: Bring Your Contractors! – This is not for end users. This property is for investor clients who want a cheap entry point, a great location, and a clear value-add opportunity. Add your desired commission.
SUMMARY:
– LOCATION: York, ON (Jane St & Dundas St W)
– PURCHASE PRICE: $599,900 Or Best Offer
– AFTER REPAIR VALUE: $1,000,000+ (Check out the townhome that sold over $1.2M!!)
– CLOSING: Early summer (There is lots of flexibility in the closing date. This is an assignment sale.)
– TYPE: Detached Bungalow
– BEDS/BATHS: 2 beds/1 bath
– PARKING: Shared driveway, 2 cars on their side
– BASEMENT: Unfinished, low ceiling height, separate entrance
– SQFT: 755
– LOT: 25’ x 110’
– AGE: 1922
– PROPERTY TAX: $5,422 (2025)
– POSSESSION: Vacant
RENOVATIONS NEEDED:
– Cosmetic updates throughout.
– Deep clean and smoke odour removal.
– Basement is unfinished with low ceiling height. Buyers looking for top ARV may wish to increase the basement to full height.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– Roof only 1 year old.
– $400k+ spread based on the stated ARV.
– Separate entrance already in place.
– Close to the Junction, Bloor West Village, and High Park. Easy access to the TTC, grocery stores, schools, and restaurants.
– Detached Toronto entry point in the $500s. Cheapest detached available in over 10 years
LISTING ID: 0326-YOR-F02
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, Tomomi Wang, Josea Dussard, Tobias King & Georgia Godfrey
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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