2008 built! Only 16 years young. This property is in very good condition and doesn’t need much. The finished basement is a perk that not every comp has. Your chance to buy at a strong discount in a good neighbourhood. Minutes to the Ira Needles Boardwalk where you’ll find everything you ever needed! Close to Costco, Landmark Cinemas, and all the big box stores.
How can you profit?
1) Long Term Rental. Make over $100k when you buy! Keep good tenants paying strong rents ($3500/month plus utilities). Sell in the future and pay less tax (capital gains vs flipping). At current rents, this property will carry itself at 25% down.
2) Move In. Hold for a few short months and move in March 2025 when the tenant’s lease is up. Or we can negotiate with the tenants to move in sooner!
3) Slow & Easy Flip for Spring. Don’t want to rent? Want to line up a flip for the Spring market? Sell this in the spring once the market is hotter. Ride the wave of interest rate reductions!
SUMMARY:
– LOCATION: Kitchener, ON (Victoria St S & Ira Needles Blvd)
– PURCHASE PRICE: $719,900 Or Best Offer
– AFTER REPAIR VALUE: $830-$850k, and that is close to AS IS value too! The last couple sales of semis on this street sold in the mid $800s. BONUS: Ours has a finished basement, and some comps do not.
– CLOSING: October 28, 2024 and there’s some flexibility if needed. (This is an assignment sale.)
– TYPE: 2 Storey Semi Detached
– BEDS/BATHS: 3 beds/3.5 baths (2 full bath upstairs, powder room on main, full bath in basement)
– PARKING: 1.5 Car Garage Plus 2 Driveway Spots
– BASEMENT: Finished and looking great!
– SQFT: 1674 sqft is big and spacious!
– LOT: 27.56’ x 147.64’ is a DEEP lot!
– AGE: 2008
– PROPERTY TAX: $4,145 (2023)
– POSSESSION: Tenanted. Great tenants paying $3500/month plus utilities. On lease til March 2025. Vacant possession may also be possible.
RENOVATIONS NEEDED:
– Doesn’t need any renos if you continue to rent.
– After the tenants move it could use some touch ups, paint, and new carpet to maximize the value.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– Enjoy a strong discount off market value!
– The property is in great shape and occupied by great, well-paying tenants.
– Big house, big lot, 1.5 car garage, double driveway, newer finished basement and 2008 built. Lots of good news!
– Many newer semis in good neighbourhoods are selling in the $800s.
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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