Who wants to buy a turn-key income property at a big discount?
Make $40-$50,000 in equity on the day you buy. Great income from day one and lots of room to raise rents when tenants move. Renovated and well maintained. Lots of updates in the past 3 years. LEGAL 2-unit that’s registered with the city.
Realtors, this is a great buy at $530k. Show it to your serious buyers and add some compensation for yourself. A NOT legal 2-unit just sold this week for $550k, a couple blocks away and a slightly smaller house.
– LOCATION: Barrie (St Vincent St & Highway 400)
– PURCHASE PRICE: $509,900
– BUY IT NOW PRICE: $515,000 – If you are 97.3% sure you want it based on videos, comps, tenant details, talking with us, your due diligence, etc… then it can be yours and we won’t show it to multiple people. Yes we can arrange a viewing and/or inspection for you.
– CURRENT VALUE: $550,000 – $570,000
– CLOSING: June 29 (Assignment Sale)
– TYPE: Detached, Raised Bungalow
– BEDS/BATHS: 6 Beds/2 Baths (3 up, 3 down)
– PARKING: Lots! The back yard has a parking lot.
– SQFT: 1158 sqft
– LOT: 58′ x 129′
– AGE: 1958 Built
– PROPERTY TAX: $3555.67/2019
– CURRENT RENTS: $1475 up + $1330 down ($2805) These are $400 or more below market value. But it cash flows great with current rents.
NOTE: Pictures and videos are from 2.5 years ago. Before the tenants moved in.
RENOS IN THE PAST 3 YEARS:
– Two new kitchens with stainless steel appliances.
– Renovated bathroom upstairs
– New eavestroughs
– Exterior waterproofing
– Driveway paved
MORE GOOD NEWS:
– Electrical panels for each unit were upgraded.
– No ducts, so better sound proofing between units.
– Each unit has a gas fireplace as primary heat source.
– Each unit has a ductless Air Conditioner.
– Bedrooms and bathrooms all have supplementary (hardwired) heating source for extra comfort.
– Each unit is separately metered for gas and hydro and so tenants set up own accounts and pay for their own consumption.
– Water/Wastewater bill is sent to the tenants every 2 months and they pay their portion. Currently, there is a 50/50 split.
– Each unit has its own outdoor shed.
– Each unit has keyless entry door pad.
THE SUMMARY: Where else can you buy a turn-key rental with such a significant discount? You don’t have to do any renos. Just buy it, increase your net worth by $50,000, cash cheques every month, and continue to watch your wealth grow every year.
Please let us know if you want to view it or if you want us to get you details. (We have a bunch of other details. Comparable solds, MPAC info, tenant details, and more…)
Aaron Moore & Tomomi Wang
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. We’ll only notify you about deals in the areas you are interested in.