Who’s looking for a profitable property?
Here’s a solid brick bungalow with a separate side entrance PLUS a basement walkout. Great potential for converting to 2 units! (The basement used to be a 2 bedroom apartment, and the kitchen and bath are still there.) Contact us asap if you’re interested!
How can you profit?
1) BRRRR: 2 Unit Conversion. Buy for $564,900, renovate, rent, and refinance out of the increased value in the mid-$700s. Peterborough rentals are in high demand and vacancies are very low. A legal 3+2 has potential to fetch rents around $4k.
2) Flip it! Beautify this and sell in the mid $700s. The huge inground pool in the backyard is a special feature on resale too, which may bring you even bigger bucks. Everyone’s fighting over the properties with pools these days! Summer staycation, anyone??
3) Move in and enjoy the pool this summer! There’s so much potential with the walk-out basement and the pool.
SUMMARY:
– LOCATION: Peterborough, ON (Hwy 7 & Bensfort Rd)
– NEW REDUCED PURCHASE PRICE: $564,900 Or Best Offer. First Come, First Served!
– AFTER REPAIR VALUE: mid-$700s. A few similar properties sold in the mid $700s in April and they weren’t even renovated, so there may be even more upside here.
– CLOSING: July 5, 2022 (This is an assignment sale.)
– TYPE: Detached Brick Bungalow
– BEDS/BATHS: 1 bathroom upstairs + 1 in basement. 3 bedrooms upstairs. Easy to make 2 bedrooms downstairs again.
– PARKING: 3+ (side by side)
– BASEMENT: Big! Used to be a 2 bedroom apartment (separate entrance PLUS walkout). Kitchen and bath are still there, but the bedrooms have been merged into one large room now. Easy to convert back.
– LOT: 50′ x 100′ (approx). Good frontage!
– AGE: 1967
– PROPERTY TAX: $3,403.38/year
– INGROUND POOL: 16′ x 32′. 8.5′ deep. Very well maintained.
RENOVATIONS NEEDED:
– Needs updates to kitchens, baths, and the usual cosmetics.
– Some ceiling repair from a prior roof leak (roof is new now).
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– Potential to convert to 2 units
– New roof 2021
– Furnace and A/C replaced 9 years ago
– Multiple profitable exit strategies
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.