Wholesale Price: $891,000 (Assignment Fee Included)
***** Ritchie Ave & Westney Rd S, Ajax, ON *****
Photos/Videos:
https://drive.google.com/drive/folders/1I9DyFDgLKFubRFSCnzLumy77wYtR4lr8
FULL BUYER’S PACKAGE: https://conta.cc/3Uv6AQ9
Are you an Investor looking for a turn-key, detached property in a prime location? Or maybe you’re just looking for a family home with a rentable basement unit that can support your mortgage expenses? Profitable Property is excited to present you with this beautiful 2-storey detached house right in the heart of Ajax!
Located 2 minutes north of Hwy 401, and 2 minutes south of Kingston Rd. W, this Midtown Ajax property is located close to all amenities. Thanks to its easy highway access and close proximity to the Ajax GO Station, this area has always been popular with commuters.
Unlike most wholesale deals, this property is not a fixer upper.
This house was extensively renovated in the last 10 years of its ownership. On top of the cosmetic renovations(kitchen,washrooms etc.), the driveway,furnace, A/C, and the deck were also taken care of by the homeowner.
The Durham real estate market is hot! With 1 out of 2 listings selling for over asking price, there is a lot of competition on the MLS. Realtors, please take note that this is also a fantastic option for a client looking to upsize into a family home without carrying a huge mortgage payment.
With similar properties selling for north of $1 million, we believe that our property is well discounted considering its turn-key condition. Buy this Profitable Property today with $80k+ of equity on the buy!
Closing: May 1st, 2023
(Seller has the option to occupy the property till May 31st, 2023. The buyer’s lawyer shall hold back the sum of $50,000 as security for the seller delivering vacant possession of the property.)
Map Link: https://goo.gl/maps/v4m2cAfjmEQtpDWq5
Property Highlights:
- A+ Midtown Ajax Location
- 3+2 Bedrooms
- 3.5 Bathrooms
- 2 Kitchens
- 29 x 102 feet lot
- Walkout Basement with a 2 Bedroom Apartment(not a legal duplex)
- Double Car Garage + Driveway Parking for 4 cars
- Deck & Driveway Redone in 2022
- Roof 2008
- Furnace & AC 2015
- HWT Rental
- Breaker Panel Electrical
- Taxes: $4601/year(approx)
Suggested Renos:
No Renos Required!
Comparable Properties:
- 132 Ravenscroft Rd sold for $1,095,000 on March 8th 2023.
https://housesigma.com/web/en/house/XeEn7X6qGavYrPo8/132-Ravenscroft-Rd-Ajax-L1T1Y2-E5940107
This property is similar to ours in terms of overall size. It has a smaller, legal basement unit. The finishes are not up to par with our property. It still sold for a $200k+ over our price point!
- 64 Chapman Dr sold for $1,076,000 on March 1st, 2023
https://housesigma.com/web/en/house/K8OgYBVX64oYJmG2/64-Chapman-Dr-Ajax-L1T3G9-E5923389
This property has one extra bedroom on the upper floor but has an unfinished basement. This house is also in need of a full cosmetic renovation, with outdated carpets throughout the house. It still sold for $185k over our price point!
- 24 Reese Ave sold for $975,000 on January 26th, 2023
https://housesigma.com/web/en/house/DO1w3WqBmEjy8Jg0/24-Reese-Ave-Ajax-L1T3V6-E5878135
This property was sold in January, well before the market picked up. It still sold for $84k over our price point! It is similar to our property in terms of its size, but lacks a second kitchen in the basement.