Who’s looking for a profitable property?
This is your classic grandmother’s bungalow! It has good bones, but it needs someone to welcome it into 2022. Could that be you? It’s a BIG bungalow (over 1400 sq. ft.) on a BIG lot (over 200′ deep), and it has 4 bedrooms on the main floor (plus 2 in the basement).
How can you profit?
1) Buy for $429,900, renovate, and sell well into the $600s. Most comps selling in the low $600s have less bedrooms, less square footage, no garage, and smaller lots. This house is superior and will have a higher ARV than others.
2) Consider adding a second unit to the basement (in-law suite style), or converting the garage into more living space.
– LOCATION: Strathroy, ON (30 minutes west of London. Metcalfe St & Park St)
– PURCHASE PRICE: $429,900 Or Best Offer
– AFTER REPAIR VALUE: $600k++. A 5+1 bedroom nearby just sold for $770k after a beautiful reno.
– CLOSING: November 29 to December 29, 2022 (At Seller’s discretion, with 21 days notice. This is an assignment sale.)
– TYPE: Detached Bungalow
– BEDS/BATHS: 4+2 Beds/2.5 Baths
– PARKING: Attached 1 car garage, 4-6 parking spaces on private driveway
– BASEMENT: Separate entrance from garage. 2 Bed/1 Bath.
– SQFT: 1404 sq. ft.
– LOT: 44′ frontage. Very deep pie/diamond shaped lot (over 200′ deep).
– AGE: 1971
– PROPERTY TAX: $2,743
– The usual updates to kitchen, baths, flooring, paint.
– Some water damage in basement.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
– All premium property!
– Roof & windows 8-10 years old.
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…)
Aaron Moore, Tomomi Wang & Josea Paul
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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