Who’s Looking for a Profitable Property?
Investors and end users searching for fixer-upper condos for sale Mississauga should take a closer look at this large three-bedroom, 1.5-bathroom condo in Meadowvale.
Priced at $349,900, the property offers an estimated $200,000 spread, with renovated comparable units reportedly selling in the mid-$500,000s. The condo has good bones, and the stated strength of the reserve fund may help keep the renovation focused primarily on cosmetic improvements.
The property was recently listed for almost $500,000, giving buyers the opportunity to purchase it at approximately 25% below the previous MLS asking price.
Key features include two deeded underground parking spaces, one locker, and a north-facing view overlooking green space and the building’s tennis courts.
The property also offers convenient access to Highway 401 and other major routes. This makes it suitable for end users looking to purchase below market value or landlords considering a long-term rental hold. Estimated market rent for a three-bedroom condo in the area is approximately $2,600 to $2,900 per month.
How Can You Profit?
1) Easy Flip or Wholetail
This fixer-upper condo has good bones and primarily requires cosmetic updates.
Purchase for $349,900, complete a controlled renovation, and target an estimated after-repair value of approximately $550,000. Renovated comparable units selling in the mid-$500,000s provide a potential spread of approximately $200,000 before renovation, financing, transaction, and holding costs.
The north-facing view overlooking local green space and the building’s tennis courts could also help the renovated unit stand out to future buyers.
2) Rental Hold
Although the condo is dated, it may be possible to make it rent-ready with a manageable cosmetic renovation.
Large three-bedroom condo units are less common than smaller one-bedroom and two-bedroom layouts. Estimated rent for this unit is approximately $2,600 to $2,900 per month, depending on its condition, included utilities, final renovations, and market conditions.
Buy at a discounted price, renovate as needed, rent the unit, and hold it as the market changes.
3) Move In With Equity
End users have the opportunity to purchase this condo at approximately 25% below its previous MLS asking price.
Buyers who do not mind completing cosmetic renovations can update the unit according to their own preferences while potentially benefiting from the difference between the purchase price and the value of renovated comparable units.
4) Realtors, Bring Your Clients
This property may work for investor clients, first-time buyers, downsizers, or end users looking for a large three-bedroom condo with two underground parking spaces.
At a purchase price of $349,900 and an estimated after-repair value of $550,000, clients have a potential equity opportunity without needing to purchase a freehold property.
Add your desired commission.
Summary
- LOCATION: Mississauga, Ontario, near Derry Road West and Winston Churchill Boulevard
- NEIGHBOURHOOD: Meadowvale
- PURCHASE PRICE: $349,900 or best offer
- AFTER-REPAIR VALUE: Approximately $550,000
- CLOSING: June 30, 2026. The property could close sooner. This is an assignment sale.
- PROPERTY TYPE: Condo apartment
- BEDROOMS/BATHROOMS: Three bedrooms and 1.5 bathrooms
- PARKING: Two deeded underground parking spaces
- LOCKER: One locker
- BASEMENT: None
- INTERIOR SIZE: Approximately 1,100 square feet
- YEAR BUILT: 1977
- CONDO FEES: $916.36 per month
- CONDO FEES INCLUDE: Water, heat, common-element maintenance, cable television and building insurance
- PROPERTY TAX: Approximately $1,840 for 2025
- POSSESSION: Vacant
Renovations Needed
- Cosmetic updates throughout
- Flooring, paint, lighting and fixture upgrades as desired
- Possible kitchen and bathroom modernization
- Some junk and furniture removal
- Any additional repairs identified during the buyer’s inspection and due diligence
Please review the property pictures and videos for renovation ideas.
Good News
- Large three-bedroom condo with an estimated $200,000 spread
- Primarily cosmetic renovation scope
- North-facing view overlooking green space
- Building tennis courts and outdoor amenities
- Two deeded underground parking spaces
- One locker
- Well-maintained building and grounds
- Located near Lake Aquitaine Park
- Close to the Meadowvale Community Centre and Library
- Convenient access to Meadowvale GO Station
- Public transit available through the Meadowvale Town Centre Transit Terminal
- Close to Highways 401, 403, 407 and 410
- Near Meadowvale Town Centre, shops, gyms, parks and schools
- Vacant possession
- Suitable for a flip, wholetail, rental hold or end-user purchase
LISTING ID: 0526-MIS-C01
Please let us know if you would like to view the property or receive the complete information package, including comparable sales, MPAC information, pictures, videos and additional property details.
Thank you,
Aaron Moore, Josea Dussard, Tobias King and Georgia Godfrey
647-557-5979
www.HouseDealsGTA.ca
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