Who’s looking for an investment with conversion potential?
Flip this dated bungalow into a beautiful single family home…or convert it into two legal units for a profitable investment property. Other houses on the street are already rented as 2-units. Easy commute to Barrie, and walking distance to downtown, shopping, and schools. Also close to several bays of Lake Simcoe and popular Lake Couchiching! The outdoorsy types will love all the options for ice fishing, boating, snowmobiling and jet-skiing in the area…as well as some of the best boating, paddling, swimming and water sports in Canada.
How can you profit?
1) Fix & Flip – buy for $634,900, make it pretty, and sell for mid to high $700s.
2) Convert & Rent – turn this into a legal 2-unit property, rent, and refinance. Demand for rentals is high in the area, with rents upward of $2000 for 2 bedroom apartments.
SUMMARY:
– LOCATION: Orillia, ON (Westmount Dr & Barrie Rd)
– REDUCED PRICE: $634,900 Or Best Offer (First Come, First Served)
– AFTER REPAIR VALUE: Mid to high $700s as a single family. A renovated legal 2-unit recently sold for $831k.
– CLOSING: August 2, 2022 (This is an assignment sale.)
– TYPE: Detached Bungalow
– BEDS/BATHS: 2+2 Beds, 1+1 Baths
– PARKING: 2-3 spaces
– BASEMENT: 2 Beds, 1 Bath
– SQFT: Around 900 sq. ft.
– LOT: 41′ x 105′ approx
– AGE: 1988
– PROPERTY TAX: $3157.89/year
RENOVATIONS NEEDED:
– The standard cosmetic updates…kitchen, baths, flooring, paint. This house is liveable but dated.
– French doors for bedroom need repair.
– Driveway is cracked.
– Some junk and furniture removal.
– Please view the pictures for ideas on what you’d like to renovate.
GOOD NEWS:
– Furnace, A/C, and hot water tank all new 2016 and owned.
– Lots of time to arrange cheap financing with an August close.
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
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