Who’s looking for a profitable property?
This house is situated on a quiet cul-de-sac in the Lakeview area of Oshawa. Drive 5 minutes south to Lakeview Park with popular beachfront, waterfront walking trail, greenspace and playground/splash pad for summertime fun. Also close to 401, Oshawa GO Station, Oshawa Centre, Walmart, Lowes, etc…everything you need is less than 10 minutes away. Lots of room for the kids to play in the big backyard. You can supervise from the covered deck! It has plenty of space for a nice outdoor dining area where your family can enjoy summer barbecues too.
How can you profit?
1) Buy, renovate, rent, and refinance out of the increased value. There is potential for two 2-bedroom apartments here. (2 beds and 1 bath already in basement; separate entrance; side-by-side parking) There are a few 2-unit properties nearby currently listed in the $900k+ range.
2) Realtors – add your commission and bring us a buyer! This house needs updating to make it beautiful, but it’s move-in ready. Your clients can renovate slowly over time.
3) Buy for $679,900, do some cosmetic updates, then sell around $800k.
SUMMARY:
– LOCATION: Oshawa, ON (Simcoe St & Wentworth St)
– PURCHASE PRICE: $679,900 Or Best Offer
– AFTER REPAIR VALUE: Nearing $800k or more, conservatively (excluding properties sold in the high $800s/$900s in the first quarter of 2022). A few nearby 2-unit properties are currently listed around $900k though! House like this sold for $900k earlier this year.
– CLOSING: July 6, 2022 (This is an assignment sale.)
– TYPE: Semi Detached Backsplit (4 Level)
– BEDS/BATHS: 2+2 Beds/1+1 Baths. Could easily be converted into two 2-bedroom apartments.
– PARKING: 3 cars in tandem plus 1 beside
– BASEMENT: 2 Beds/1 Bath (separate entrance)
– SQFT: 1353 sq. ft.
– LOT: 30′ x 184′ approx (widens to 39′ at the back)
– AGE: 1969
– PROPERTY TAX: $3510 in 2021
RENOVATIONS NEEDED:
– Basement drywall needs finishing in some areas.
– Cosmetic updates to kitchen, baths, flooring, paint.
– Add a second kitchen to convert basement to a second unit, if desired.
– Some junk and furniture removal.
– Please view the pictures for ideas on what you’d like to renovate.
GOOD NEWS:
– New roof & plywood 3 years ago
– 2-unit conversion potential
Please let us know if you want to view it or if you want us to email you the info package. (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. PUSH HERE to get notified about these discounted deals as soon as they become available. Sometimes these deals go fast, so you don’t want to miss them.