Who’s looking for a legal duplex under market value?
Rare chance to buy a VACANT legal duplex under market value in the Durham Region. This property is close to the 401, GO Station, Oshawa Town Centre, Costco, and much more. Drive to popular Lakeview Park in under 5 minutes which boasts a beautiful beach and greenspace right on Lake Ontario. Separate meters for both hydro and gas means no fighting between tenants over utilities, and no chasing tenants for reimbursements. Enjoy lots of parking, BIG frontage, and a detached garage (rent out separately or get increased rent from your main floor unit). Separate entrance to basement apartment.
How can you profit?
1) Buy for $799,900, renovate, rent and refinance out of the increased value. This is a LEGAL DUPLEX. Some duplexes in Oshawa have been creeping toward the high $900s, depending on finishes. Ask us for comps!
2) Fix & Flip. Buy now, renovate over the winter, and list a beautifully updated legal duplex just in time for the spring market. A family can stretch their purchasing power further with the income from the basement apartment.
3) House hack…move in upstairs, renovate slowly over time, and let your basement tenant help with the bills! Realtors – here’s an opportunity for your clients to avoid the crazy competition on the MLS. Just add something on top for yourself.
SUMMARY:
– LOCATION: Oshawa, ON (Bloor St W & Park Rd)
– PURCHASE PRICE: $799,900 Or Best Offer
– AFTER REPAIR VALUE: Mid $800s or $900s. Compare with recent sales in the $800-$900s range.
– CLOSING: December 22, 2021 (This is an assignment sale.)
– TYPE: Detached Brick Bungalow – Legal Duplex
– BEDS/BATHS: Main Floor Unit: 3+1 Beds/1+1 Baths
– MARKET RENTS: $2000-$3000 for upper unit, $1300-$1600 for basement.
– PARKING: 5-6 Spaces
– BASEMENT: Legal 1 bedroom apartment with separate entrance. Add a second bedroom to get higher rents.
– SQFT: approx 1100 sq. ft.
– LOT: 70′ x 66′
– AGE: 1959
– GARAGE: 1.5 Car Detached
– PROPERTY TAX: $4,057.75/year
RENOVATIONS NEEDED:
– Cosmetic updates to kitchens, baths, flooring, etc.
– Needs new appliances.
– Some junk and furniture removal.
– Please view the pictures for ideas on what you’d like to renovate.
GOOD NEWS:
– Legal duplex.
– Currently vacant!
– Space for laundry in both units.
– Separate meters for both heat and electricity.
– Small back yard, so less for tenants to maintain.
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
Need Fast Financing?
Calvert Home Mortgage has the ability to finance most of the wholesale price, INCLUDING the assignment fee.
Calvert has options for buying with as low as $20k down, with rates starting at 7.99% and a 2% lender’s fee for 25% down.
No additional broker fees! No appraisal fee! Fully open!
DISCOUNT:
Get $500 off the lender’s fee from Calvert Mortgages if you let them know that you heard about them through House Deals GTA