Renovator special! Previously used as a 2-unit property with a 3-bedroom main floor apartment and a 2-bedroom lower unit. The large 2 car detached garage, on a laneway already has hydro and may offer laneway/garden suite potential, as a special bonus. East end location close to RHVP, QEW, transit, shopping and other amenities.
How can you profit?
1) 2 Unit Conversion: this already has a 2 bed/1 bath finished basement with a separate entrance. It used to have a kitchen too, but the appliances are gone now. Convert back to 2 units and earn rents around $4100/month for both units (approx. $1800 lower and $2300 upper.)
2) Flip: Buy for 329k, renovate, and sell in the $500s most likely.
3) Value-add: Could be potential here to develop the large detached garage and create an auxiliary dwelling, garden or laneway suite.
SUMMARY:
– LOCATION: Hamilton, ON (Barton St E & Kenilworth Ave)
– PURCHASE PRICE: $329,900 Or Best Offer
– AFTER REPAIR VALUE: Around $500k or more.
Most nearby houses that sold around $500k are dated properties in need of renovation. How much more could you get with a nice reno?
– CLOSING: December 12, 2024 (This is an assignment sale.)
– TYPE: Detached Bungalow
– BEDS/BATHS: 3+2 Bedrooms/1+1 Baths
– PARKING: 2 car detached garage with hydro! Plus street parking.
– BASEMENT: Finished with separate entrance. 2 Bed/1 Bath. A previous listing indicates it used to have a kitchen too! Add it back to finish the apartment.
– SQFT: 894
– LOT: 30’ x 125’
– AGE: 1919
– PROPERTY TAX: $2,933 (2023)
– POSSESSION: Vacant
RENOVATIONS NEEDED:
– Plan for some drywall & ceiling repair and cosmetic updates throughout. This house is dirty and smelly.
– Backyard needs landscaping.
– Time for new windows.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– It’s cheap! Only $329k.
– What could you do with the big 2 car detached garage in the back?
Is there future garden suite potential here? There are several apartment buildings nearby.
LISTING ID: 1124-HAM-F01
Please let us know if you want to view it or if you want the info package. (Comparable solds, MPAC info, and more…)
Thank you,
Aaron Moore, Tomomi Wang & Josea Dussard
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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