Who’s looking for their next income property?
You can buy this house with confidence, knowing that everything in it is younger than 10 years old! It was built in 2013 and has a basement in-law suite with its own separate entrance (currently vacant). The upper unit is currently tenanted (buyer to assume month-to-month tenant). Tiny front yard means less maintenance for tenants.
How can you profit?
1) Hold & Rent. Buy this property at a discount, freshen up the paint, and enjoy a lucrative rental for many years to come.
2) Move In Now. Realtors, help your clients avoid the current crazy on MLS and bring them this discounted off market deal. They can move in upstairs and rent out the lower unit for some extra income. Add your commission on top!
SUMMARY:
– LOCATION: St. Catharines (Ormond St. & Townline Rd.)
– NEW PURCHASE PRICE: $599,900 – First Come, First Served
– AFTER REPAIR VALUE: Townhouses are selling well into the $700s (even $800s), and our semi is way better than a townhouse!
– CLOSING: February 14, 2022 (Closing might be flexible if needed.)
– TYPE: 2 Storey Semi-Detached
– BEDS/BATHS: 3+1 Beds/3+1 Baths
– PARKING: 1 Garage/2 Driveway
– BASEMENT: 1 Bedroom In Law Suite (Currently vacant. Separate entrance. Not Legal. May have potential for second bedroom.)
– SQFT: 1700 sq. ft. (approx)
– LOT: 21′ x 131′
– AGE: 2013
– PROPERTY TAX: Approx $3550/year
– RENTAL INCOME: Upper unit paying $1500/month all inclusive (sometimes). Current market rents are much higher than $1500. Vacant possession will not be given. Lower unit is vacant.
RENOVATIONS NEEDED:
– Minimal (newer build). Cleaning the carpets and a fresh coat of paint would freshen it up.
– Fridge & stove upstairs belong to tenant, so you may have to replace those eventually.
– Some junk and furniture removal.
GOOD NEWS:
– Less than 10 years old, so nothing major will need your attention (or pocketbook!) for some time.
– Avoid MLS!
– Lower unit currently vacant.
– Small front yard, so less for tenants to maintain.
Please let us know if you want to see walkthrough videos 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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