Who’s looking for a profitable property?
Here’s a big 2007 sqft house walking distance to everything your tenants would need, including shopping and bus routes. It is registered as a 4-plex with MPAC. It’s currently used as a rooming house. This shared accommodation property can house 8 separate tenants. Your chance to own a profitable investment property at a fair price in this crazy market!
How can you profit?
1) There’s room to profitably fix & flip this
2) Renovate, raise rents, refinance, and hold long term
SUMMARY:
– LOCATION: Oshawa, ON (Ritson Rd & Bond St E)
– PURCHASE PRICE: $449,900 Or Best Offer
– AFTER REPAIR VALUE: In the high $600s to $700s, depending on your strategy
– CLOSING: June 30, 2021 (This is an assignment sale.)
– TYPE: Detached, 2 Storey
– BEDS/BATHS: 7 Beds/3 Baths (3 bed upper, 4 bed main floor, bachelor basement)
– PARKING: 4 spaces
– BASEMENT: Separate entrance
– SQFT: 2007 sq ft (Big!)
– LOT: 40′ x 131 ft’
– AGE: 1900
– KITCHENS: 2 plus extra fridge in basement
– RENTS: 2 of 8 ‘units’ are vacant. Current rents are $2815 for 6 units. Possible rents are over $4000/month when fully occupied as rooming house or 4-plex.
– VACANT POSSESSION NOT PROVIDED
– NOT licensed/registered as a rooming house.
RENOVATIONS NEEDED:
– The house has not been maintained well, needs some TLC.
– Updates to all of interior needed.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– 2 rooms vacant on possession. If you want to renovate and raise rents.
– You can make plans to help the tenants move so you can renovate and raise rents. Pay the tenants to vacate! Just factor it into the price.
– ODSP direct deposit to landlord for existing tenants (each tenant currently pays $400-500/mt)
– MPAC describes it as residential with four self-contained units.
– Zoned for apartment buildings… if you’d like to build an apartment building in the future. You’d probably need to buy a neighbouring lot too.
Please let us know if you want to view it or if you want us to email you the info package. (Videos, Comparable sales, MPAC info, and more…)
Thank you,
Aaron Moore, Tomomi Wang & Josea Paul
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
PS. Do you want to get notified of these deals before everyone else? PUSH HERE to get notified about these deals as soon as they become available.
Need Fast Financing?
Calvert Home Mortgage has the ability to finance most of the wholesale price, INCLUDING the assignment fee. Also, they can fund in 24 hours.
Calvert has options for buying with as low as $20k down, with rates starting at 7.99% and a 2% lender’s fee for 25% down.
No additional broker fees! No appraisal fee! No lender legal fee! Fully open!
DISCOUNT:
Get $500 off the lender’s fee from Calvert Mortgages if you let them know that you heard about them through House Deals GTA