Discover the endless possibilities of this Georgetown/Halton Hills gem featuring a huge backyard. This property offers potential for three separate units, making it an ideal investment property. With ample parking and a separate entrance to the existing basement apartment, it’s perfect for extended families or rental income. Or fix and flip for a profit…$200k+ spread! Don’t miss this unique opportunity to own a versatile home in a desirable neighborhood.
How can you profit?
1) Fix & Flip: buy for $717k, renovate, and sell in the mid $900s or more.
2) Convert to two (or three!) units. The basement already has a large 1 bedroom in-law suite with full kitchen and bath. Can you turn the 2 storey rear addition into a legal third unit? It used to be a completely separate third unit. There’s lots of room for parking for all tenants. Fetch $6000-$6500/month in rents after renos.
SUMMARY:
– LOCATION: Georgetown/Halton Hills, ON (30 min west of Brampton at Main St S & Guelph St)
– NEW REDUCED PURCHASE PRICE: $717,000 Or Best Offer. Buy it now before it hits MLS! First Come, First Served.
– AFTER REPAIR VALUE: There are renovated AND unrenovated properties selling in the $940k-$975k range.
– CLOSING: Sept 1 – Oct 1, 2024 (Seller’s choice. This is an assignment sale.)
– TYPE: Detached Bungalow Plus 2 Storey Rear Addition
– BEDS/BATHS: 3+1 Beds/2+1 Full Baths.
ORIGINAL BUNGALOW: 2 beds/1 full bath/1 kitchen on main floor. (One bedroom currently being used as dining room.)
BASEMENT: Finished with separate entrance. 1 bed/1 full bath/1 kitchen
2 STOREY REAR ADDITION: Living space on ground floor. 1 bed/1 full bath on second floor. Used to be a completely separate third unit with its own kitchen.
– PARKING: Fits up to 6 cars in the driveway
– SQFT: 1823 sq. ft.
– LOT: 55’ x 158’
– AGE: 1955
– PROPERTY TAX: Approx: $7,960/year
– POSSESSION: Vacant
RENOVATIONS NEEDED:
– Usual cosmetic updates to kitchens, baths, flooring, paint.
– Some water damage to ceiling needs repair.
– Needs a good scrub.
– If you’d like to keep this as an investment property, consider converting to 3 units. (2 bed/1 bed/1 bed). There’s lots of parking!
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– Multiple exit strategies. Big $200k+ spread for a flip AND conversion potential to two or three units (your choice!) Can you hope for a 4th unit/garden suite in the big backyard someday?
– Roof and furnace new in last 5-ish years
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
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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