There’s six-figure profit in this Toronto flip. It is in a hot area between Greek Town and Leslieville.
This property just needs someone creative to maximize its potential and make it beautiful. It’s situated on a hill and you have terraces, multiple levels and peaceful views of the city. There’s potential to be a 2 or 3-unit property that you can refinance and rent afterwards. Contact us soon if you’re interested because a decision needs to be made within several days.
ASSIGNMENT: We’re happy to assign this contract.
JOINT VENTURE: We are open to joint ventures with someone with a proven track record in renovations and construction. We can fund the project.
– LOCATION: Toronto (near Pape & Danforth)
– PURCHASE PRICE: $739,900 Or Best Offer
– AFTER REPAIR VALUE: $1.1 to $1.4 Million – How funky do you want to make this house?
– CLOSING: Oct. 30 (This is an assignment sale.)
– TYPE: Semi-Detached, 2-Storey
– BEDS/BATHS: 3 Bed, 1 Bath
– PARKING: 2 parking spaces. Former garage needs a roof and some work. Laneway access.
– BASEMENT: ceiling height is around 6’ but has multiple areas to duck.
– SQFT: 1280 sqft + basement
– LOT: 16.5′ x 110′
– AGE: 1912
IDEAS FOR THE FUTURE POTENTIAL:
– Potential to be converted into a 2- or 3-unit property.
– May have the potential to finish the attic space.
– Underpinning will add significant value.
– Because it’s on a hill there are a lot of options for decks and terraces with nice open views.
– Depending on what you do you can turn the value into $1.1 Million to $1.4 Million like other sales in the area.
– It is time for someone to bring the vision to this house and do a major reno. This house could be turned into something amazing that’s worth WELL OVER a Million.
– It’s a well-maintained house, but it’s old, never updated, and needs a lot of work.
– Knob and tube wiring
– Oil tank
– Front porch is sloping
– Back decks and terraces
– Retaining wall needs to be re-done so you can use the garage/parking pad.
– Newer roof!
– The parking and garage potential is VALUABLE.
– 12 minute walk to the Danforth subway or a quick bus ride.
– This house is larger than the house on the street that sold for $1.4 Million.
– There’s a tonne of potential here and a tonne of profit. But to maximize the value, this project needs more design and vision than the average reno.
Please let us know if you’d like to view it or if you’d like us to email you details. (Comparable solds, MPAC info, and more…)
Aaron Moore & Tomomi Wang
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors