Hard to find a legal, cash flowing rental these days?
Here’s a LEGAL 2 unit property in a mature, quiet neighborhood. Close to parks, restaurants, and Fleming College’s Frost campus. Lindsay is a city-on-the-river, nestled between Lake Scugog and Sturgeon Lake. Enjoy all the water activities your heart desires within a short drive.
How can you profit?
1) Rent It Out: finally enjoy a cash flowing rental despite rising interest rates. (Over $1000/month). Assume existing mortgage and enjoy 2.09% interest rate for 3 more years. Upper unit tenanted at market rents. Lower unit vacant…pick your tenant and your rents!
2) Move In: are you a newer investor looking for a house hack? Move into the basement and keep the upstairs tenants. It will only cost you around $350/month to live here if you self manage!
SUMMARY:
– LOCATION: Lindsay, ON (1 hour north of Oshawa, 40 min west of Peterborough)
– PURCHASE PRICE: $499,900 Or Best Offer
– CLOSING: September 14, 2023, or sooner if you prefer (This is an assignment sale.)
– TYPE: Semi-Detached Raised Bungalow with Registered ARU (Additional Residential Unit)
– UPPER UNIT: 2 Bed/1 Bath with own kitchen and laundry. Tenant paying $2000/month plus utilities (at market rents).
– LOWER/BASEMENT UNIT: 2 Bed/1 Bath with own kitchen and laundry. Vacant.
– PARKING: 4-6 cars (side by side)
– SQFT: 1009 sq. ft.
– LOT: 31′ x 95′
– AGE: 1989
– PROPERTY TAX: Approx $2320/year
RENOVATIONS NEEDED:
– Rent-ready. No renos required.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– Qualify for 2.09% mortgage for 3 more years using projected income from both units (it’s a legal ARU).
– Rent ready as-is.
– One unit vacant and one paying market rents already. No stressing over how to get tenants up to market rents!
– Newer floors throughout.
– Basement recently waterproofed.
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,
Josea Paul, Myra Afidchao, Aaron Moore & Tomomi Wang
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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