Who wants a deal on a desirable raised bungalow?
It has a nice setup for a basement apartment thanks to separate entrances, parking and good ceiling height.
How can you profit?
1) FLIP IT: Buy for $559,900, make it beautiful, then sell for mid-high $700s.
2) Buy, reno, rent, refinance out of the increased value.
3) Great opportunity for a homeowner who wants to buy with equity. It’s a long closing, so there’s plenty of time to arrange good financing.
SUMMARY:
– LOCATION: Cambridge (Near Franklin Blvd & Samuelson St)
– PURCHASE PRICE: $559,900 Or Best Offer
– AFTER REPAIR VALUE: mid-high $700s. There are a few comparables that make us think you might break $800k if you make it beautiful.
– CLOSING: June 28, 2021 (This is an assignment sale.)
– TYPE: Detached Raised-Bungalow
– BEDS/BATHS: 3 Bed/2 Bath
– PARKING: 3-4 parking spots. 2-3 in double driveway plus 1 in garage.
– BASEMENT: Finished, Separate Entrances, Ceiling height almost 7′
– SQFT: 1000 sqft
– LOT: 53′ x 100′
– AGE: 1964
– PROPERTY TAX: $3,037.23
RENOVATIONS NEEDED:
– The house is dated and could use a face-lift.
– Some junk and furniture removal. The house is very cluttered.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– Multiple separate entrances. Basement currently has a separate entrance through the garage. There’s another entrance near the top of the basement stairs and this could be walled up to make a private entrance.
– New Furnace and AC.
– New windows with transferable warranty.
– New electrical panel.
– Roof is 6 years old with transferable warranty.
Please let us know if you want to view it or if you want us to get you details. (Videos, comparable sales, MPAC info, and more…)
Thank you,
Aaron Moore & Tomomi Wang
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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