🤑 Easy Cosmetic Flip at an Entry Level Price Point ✅
Wholesale Price: $313,000 (Assignment Fee Included)
***95 Wellington St, Bowmanville, ON***
Photos/Videos: https://drive.google.com/drive/folders/1U-pbEkBuQRnjHSQSLRYezp61BDbGqh9O
Profitable Property is excited to present to you your winter acquisition- a condo at a great location in Bowmanville at an entry level price point of $313k!
This Condominium Complex is located in a highly desirable area of Bowmanville. The building is located on Wellington st, right across the street from many custom homes. The building is popular among retirees, downsizers, and first time buyers thanks to its great location, spacious layouts and affordable price range. At a conservative ARV of $480k, this property will remain very affordable even after renovating it!
The interior of the unit is dated and can use a cosmetic update. The scope of work is limited to updating the kitchen, washrooms, flooring and a fresh coat of paint. Since this is a condo, you don’t have to worry about any structural changes or complicated renovations.
This is the perfect winter project: you don’t have to worry about any exterior work, roof replacements or landscaping! All you have to do is spruce up the interior of the unit and flip it for a profit – a quick and easy job that can be done with a small Reno budget. Not a single unit has sold below $500k in this building in the last year. Now that’s what we call a Profitable Property!
Closing: January 19th, 2023
Note: We are currently working on getting Vacant Possession for this unit.
Map Link: https://maps.app.goo.gl/SLFmPrtSkwcyoTmP7
Property Highlights:
- A+ Location in Bowmanville
- 1 Bedroom, 1.5 Washroom Condo
- 1 Parking Spot
- Condo Fees $471.46/month(includes Water, maintenance and common elements)
- HWT Rental
- Year built: 1997
- Taxes: $2,546/year
Suggested Renos:
Cosmetic Renovation
Comparable Properties:
- 115-95 Wellington St sold for $529,900 on February 13, 2023
Same building and same layout as our unit. This unit was moderately renovated in the past but still had dated finishes and white appliances throughout. It sold for $529k- thats $200k+ over our price point!
- 304- 61 Clarington Blvd sold for $490,000 on September 9th, 2023
This property is on a main street and is fully dated. It has outdated flooring and finishes throughout the house. In spite of all that, the property still sold for $1.08m – that’s $220k+ over our price point!