Who’s looking for a great deal? You choose how you want to profit…
1) It’s a profitable fix & flip opportunity. Buy for $385k, do a solid reno and sell for around $495k-$525k.
2) It may have potential to be made into a legal 2-unit. (You always need to verify with the city.)
Buy for $385k, reno, rent, then refinance based on a value of over $550k.
SUMMARY:
– PURCHASE PRICE: $385,000
– FAST CLOSING: Closing date is Nov. 01 – This is an assignment of contract.
– After Repair Value – Recent sales on the street for $495,000 and $525,000.
– If made into a legal 2-unit it would be worth over $550,000.
– LOCATION – Bowmanville – Between King & 401, East of Liberty
– detached 4-level backsplit (ie. better than a 3-level split)
– 105′ x 60′ corner lot
– 4 bed, 2.5 bath (bedrooms are all on the top floor)
– 1680 sqft …Big House for this price!!!
RENOVATIONS NEEDED:
– new flooring
– repair punched holes in drywall, a fresh coat of paint
– bathroom updates
– kitchen updates
– pool – Fill it in or repair it.
– landscaping and patio stones need attention.
– roof has leak. Might just need a repair since its 8 years old.
– and plenty more. The house has had plenty of wear and tear.
LEGAL 2-UNIT NOTES:
– You’ll need to verify that you can legalize this and what changes you’d need to make.
– Has a double driveway plus a one car garage.
– Entrance to lower unit would need to be cut.
It’s good to have multiple ways to profit!
Call us at 647-557-5979 if you’re interested in investment properties in Bowmanville.
This house is sold now buy if you want to be notified of upcoming fixer upper properties, then fill out the form here on our website.