This raised bungalow in Kitchener offers incredible potential for a fix & flip, BRRRR/2-unit conversion. Nestled in a desirable neighborhood, this property sits on a spacious 63′ x 114′ lot, with a walk-out basement, ample parking, and strong ARV potential. Just minutes from top schools, shopping centers, and easy highway access, it’s a perfect opportunity for investors and handy homeowners alike.
How can you profit?
- Fix & Flip – Cosmetic renovation needed, but excellent profit margin with an ARV of $820,000.
- 2-Unit Conversion – Walk-out basement with 8’ ceilings offers prime opportunity to add a legal second unit. Refi or exit around $900k.
- Buy & Hold – High-demand rental area with strong appreciation potential.
SUMMARY:
– LOCATION: Kitchener, ON (Westmount Rd E & Hwy 8)
– PURCHASE PRICE: $639,900 $629,900 Or Best Offer. Buy It Now! First Come, First Served. Inspection Report Available.
– AFTER REPAIR VALUE: Around $820k as a single family home. Considering a conversation instead? A nicely renovated & vacant legal duplex sold for 900k in the neighbourhood.
– CLOSING: May 1, 2025 (May have some flexibility. This is an assignment sale.)
– TYPE: Detached Bungalow
– BEDS/BATHS: 3 Beds/1 Bath
– PARKING: 3-4 spaces between driveway and carport
– BASEMENT: Partially finished with separate entrance and walkout to backyard. 8’ ceilings.
– SQFT: 1,186
– EXTRA WIDE LOT: 63’ x 114’
– AGE: 1959
– PROPERTY TAX: $3,984 (2024)
– POSSESSION: Vacant
RENOVATIONS NEEDED:
– Full cosmetic updates throughout. It’s your grandmother’s bungalow!
– Electrical panel upgrade recommended (currently 60-amp service).
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– Spacious lot – 63’ wide with potential.
– Walk-out basement – Ideal for adding a rental suite or extended living space.
– Some newer mechanicals – Furnace (2023), newer eavestroughs, and solid roof (2012, no issues).
LISTING ID: 0325-KIT-F01
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 & Randall Reashore
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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