Buy this cheap 6-12 “Unit” Multiplex/Rooming House for $249k…the price of a single family home! All units vacant on possession. Your chance to reimagine and reorganize the space for its highest and best use! Decide how many units you’d like it to be, renovate, rent, and refinance well over $700k. Several big ticket items like roof, furnace, A/C, attic insulation etc are already brand new!
Most recently operated as 8 “units”:
MAIN FLOOR has three bachelor units (each with own kitchenette/bath)
UPPER FLOOR has two 1-bedroom units (each with own kitchenette/bath) plus three single rooms with shared bath
BASEMENT used to have four additional rental spaces (3 beds + 1 bachelor)
SUMMARY:
– LOCATION: Sudbury, ON (Hwy 80 & Hwy 55)
– NEW REDUCED PURCHASE PRICE: $219,900 Or Best Offer. Purchase super close to the tax assessed value of 210k!
– CURRENT MARKET VALUE: Around $450k. A similar 8(9) unit building sold recently for $450k and was fully tenanted. Ours is vacant and ready to BRRRR!
– AFTER REPAIR VALUE: $700k++
– CLOSING: End of February – end of April, 2024 (Seller’s discretion. This is an assignment sale.)
– TYPE: 2 Storey Semi-Detached Rooming/Boarding House
– BEDS/BATHS: 10 Beds/6 Baths
– PARKING: None. Potential for some to be added.
– BASEMENT: Currently used for storage only. Full height. Used to have tenants.
– SQFT: 2918
– LOT: 50’ x 85’
– AGE: 1930
– PROPERTY TAX: $3500/year
– ZONING: R2-3
RENOVATIONS NEEDED:
– Take steps to legalize extra units. Seems like 6 already have thumbs up from fire department.
– Full cosmetic reno, appliances, electrical, fire remediation and separation required.
– Hydro is shut off. Using temporary hydro connections currently.
– Some junk and furniture removal.
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– Brand new furnace, A/C, roof, attic insulation ($25k+ in renos)
– Windows about 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…)
Thank you,
Josea Paul, Deb Weir, Aaron Moore & Tomomi Wang
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
PS. Get notified of only the deals you are interested in by telling us your areas of interest. We notify you by email based on the geography you want. PUSH HERE to get the deals you want.