Want a condo townhouse with extra income potential?
This one’s ready for your modern touch! It’s liveable, but dated. Great opportunity to take advantage of a discounted deal and turn it into something stunning. And it’s a condo, so you can keep your reno investment minimal.
How can you profit?
1) Fix & Flip: Buy now for $689,900, renovate, and sell for mid to high $800s. It’s a condo, so no need to budget for exterior updates.
2) Move In: Purchase your new family home at a discount, and renovate to your liking. The extra kitchen, bathroom and bedroom in the basement make this a great place to share with a relative or friend.
– LOCATION: Scarborough, ON (Warden Ave & Finch Ave)
– PURCHASE PRICE: $689,900 Or Best Offer
– AFTER REPAIR VALUE: Mid to high $800s, depending on finishes. But! A nearby unit just sold for $940k last week…
– CLOSING: March 14, 2022 (Plenty of time to arrange bank financing! This is an assignment sale.)
– TYPE: 2 Storey Condo Townhouse
– BEDS/BATHS: 3+1 Beds/1.5+1 Baths
– PARKING: 1 Garage, 1 Driveway
– BASEMENT: 1 Bedroom In Law Suite (Not Legal). No separate entrance. Stairs going down are well into house.
– SQFT: 1200-1400 sq. ft.
– AGE: 1971
– CONDO FEES: $420.78 (includes water, cable TV, building insurance, parking, common elements)
– Needs cosmetic updates to kitchens, baths, flooring, and paint.
– Some junk and furniture removal.
– Please view the pictures for ideas on what you’d like to renovate.
– It’s a condo! Focus your attention on interior renovations. But for the record, the roof is 3 years new.
– Furnace replaced 2009.
– If you’re a flipper, the potential income from the in-law suite will help your buyers stretch their budget when you’re ready to sell.
– Longer close means time to arrange cheap bank financing.
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…)
Aaron Moore, Tomomi Wang & Josea Paul
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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