Who’s looking for a profitable property?
One major highlight of this property is definitely the TWO MASSIVE GARAGES/WORKSHOPS. A contractor’s dream! Or can you turn the biggest one into a second unit?! (It’s approx 1250 sq. ft.) It already has its own furnace and hot water tank, is partially insulated, and is serviced for water and hydro. This property is already on municipal services (not well/septic). And it’s on a HUGE 77’x210′ lot with two separate driveways to the two garages. Can you sever the lot in the future?
Lots of renovations on the main house already complete, including a new kitchen, bath, flooring and windows. Finish a few cosmetic updates quickly for a lucrative flip.
How can you profit?
1) Fix & Flip: Take advantage of the nice renos already complete, and pick up where the seller left off. Buy for $429,900, renovate, and sell over $600k. Probably more! The comparables don’t have the same potential as this property with its big lot and secondary structures.
2) Move In: Got access to cash or an empty HELOC? (Quick close.) Enjoy the brand new kitchen and bathroom, and update the rest slowly over time.
– LOCATION: Orillia, ON (Near Hwy 11 & West St)
– PURCHASE PRICE: $429,900 Or Best Offer
– AFTER REPAIR VALUE: Can you leverage the 3 buildings to push ARV past the $600s?
– SUPER FAST CLOSING: August 15, 2023 (This is an assignment sale.)
– TYPE: 1.5 Storey Detached
– BEDS/BATHS: 2 Beds/2 Baths
– PARKING: Lots! 2 Separate Driveways Plus 2 Huge Detached Garages
– DETACHED GARAGE 1: Approx 20’x30′ with hydro
– DETACHED GARAGE 2: Approx 25’x50′ on 8″ poured concrete foundation with fibre mesh. Part insulated. Has own furnace and hot water tank. Setup for hydro/water.
– BASEMENT: Unfinished
– SQFT: 1307 sq. ft.
– LOT: Huge lot! 77′ x 210′
– AGE: 1933
– PROPERTY TAX: Approx $3960/year
– Brand new kitchen and stainless steel appliances (including wine fridge and built-in gas stove top, oven, and microwave)
– Brand new full bath with roman tub and stand up shower
– Some new vinyl windows with remote-operated blinds
– New flooring on main floor (tile & LVP)
RENOVATIONS STILL NEEDED:
– Some drywall repair from old water damage in master bedroom
– Cosmetic updates to 2nd floor (one bathroom, flooring, some drywall repair, a couple more windows, paint, etc.)
– Trim needed throughout
– New A/C unit still needs to be hooked up
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
– The two garages are a massive perk
– Big big lot with a great setup for future potential.
– Lots of upgrades already done.
– A deep discount due to fast closing needed!
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…)
Josea Paul, Myra Afidchao, Aaron Moore & Tomomi Wang
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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