Who’s looking for a profitable property?
This mixed-use building is a fantastic BRRRR play, located on the main downtown strip in Owen Sound with both residential and commercial space. The commercial unit has a steady tenant paying $3,660/month. Upstairs, the plans for a 4-unit residential conversion (1000 sqft each, 2-bedroom units) are already drawn up. The building’s estimated completion value sits at $1.3M, providing investors with a $700k+ spread. With a purchase price of $599k, the numbers speak for themselves. Full reno required, but multiple exit paths available.
How can you profit?
1) BRRRR – Buy at $599k, renovate to convert the upper floor into multiple residential units, and refinance based on the $1.3M ARV. Pull out your capital and keep the cash flow!
2) Full Renovation Flip – Buy for $599k, renovate, and sell for $1.3M. The spread is clear with this project, providing a substantial margin for experienced flippers.
3) Realtors: Bring Your Investor Clients – This property works for both commercial and residential investors. It’s a solid opportunity for clients who want to capitalize on this area’s ongoing transformation.
SUMMARY:
– LOCATION: Owen Sound, ON (Hwy 6 & 2nd Ave E)
– PURCHASE PRICE: $599,900 Or Best Offer
– CURRENT MARKET VALUE: $800,000 as per recent appraisal
– AFTER REPAIR VALUE: $1.2-$1.3M. Next door sold for $1.6M! (Completion value based on current appraisal and comps)
– CLOSING: March 31, 2026 (This is an assignment sale.)
– TYPE: Mixed-use building. Commercial main floor with conversion plans for 4 residential units upstairs available.
– PARKING: 3-4 cars
– BASEMENT: Full height, unfinished, partial common area
– LOT: 32’ x 210’
– PROPERTY TAX: $4,000 (2025)
– POSSESSION: Commercial unit tenanted at $3660/month. Second storey gutted and vacant.
RENOVATIONS NEEDED:
– Full renovation of the upstairs to create 4+ residential units (floorplans already done). It’s fully gutted already and ready for your next move!
– Commercial unit is in good condition but could benefit from updates.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– $3,660/month commercial rent currently being paid.
– Architectural drawings for a 4-unit conversion available.
– $700k+ potential spread.
– Excellent downtown location with strong long-term rental demand.
– Separate entrance for residential conversion.
– Full-height basement with potential for additional storage or common space.
– Strong neighborhood revitalization trend.
– The appraisal confirms a solid ARV of $1.3M+.
LISTING ID: 0126-OWE-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 & Sarah Budden
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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PS. Email us today for your info package. Who wants to make money on this one?