Deep Discount on 2-Unit in Great Toronto Neighborhood. Almost Rent-Ready with Garden Suite Potential. Assigned

  • $859,900
  • 3 beds
  • 2 baths
  • 794 sqft
Who’s looking for a profitable property?

 

Lots of updates already done to this solid brick bungalow in the highly desirable Topham Park area of East York. Close to DVP and steps away from TTC, grocery, restaurants, school, and community centre.

How can you profit?
1) Long Term Rental: If you value long term equity building over cash flow, rent the top floor for around $3k/month and the basement around $1700/month.
2) House Hack: Live in one unit and rent the other! Let tenants help you with your mortgage.
3) Is there Garden Suite potential here? A nearby property on a slightly smaller lot recently sold for big bucks after getting a consultation approving of a garden suite. How much value would a third unit add to this property?

SUMMARY:
– LOCATION: East York, ON (Topham Park area at St Clair Ave E & Scarlett Rd)
– NEW REDUCED PURCHASE PRICE:  $859,900 Or Best Offer.
– AFTER REPAIR VALUE: Over $1M at least, and that’s close to as-is value too. But maybe over $1.1M! The most similar comparable on a similar lot size sold over $1.1M and was fully tenanted. They had a consultation stating that a garden suite would be permitted on the lot. Is there potential for a garden suite on this lot too?
– CLOSING:  November 19, 2024 (This is an assignment sale.)
– TYPE: Detached Bungalow
– PARKING: 4 spaces (tandem)
– MAIN FLOOR UNIT: 2 beds/1 bath
– BASEMENT UNIT: Separate entrance to 1 bed/1 bath in-law suite.
– SQFT: 794
– LOT: 35’ x 105’
– AGE: 1949
– PROPERTY TAX: Approx $3,977 (2024)
– POSSESSION: Vacant

RENOVATIONS NEEDED:
Lots of updates done in the last 5 years (roof, furnace, kitchen, appliances, paint, etc.) Windows are still in great shape and have new trim.
– Most of the upper unit is newly renovated and basement unit is good to go after a cleanup.
– The seller will possibly finish laying the new flooring/trim they started installing. If they don’t, you can.
– You might update the bathrooms.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.

GOOD NEWS:
– Garden suite potential could add significant value to the property.
Stellar Topham Park location close to all amenities

LISTING ID: 1024-EAS-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

PS. PUSH HERE to get immediate access to these discounted deals as soon as they are available.

Price:
$859,900
Address:
East York, ON
Square Feet:
794
Lot Size:
35’ x 105’
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1949
Basement:
Separate entrance to 1 bed/1 bath in-law suite.
Const. Type:
Detached Bungalow

Call (647) 557-5979 for more details