Scarborough Fixer Upper with a $300k+ Spread 🤑
Wholesale Price: $859,000 (Assignment Fee Included)
***Eglinton Ave E & Kennedy Rd , Toronto, ON***
Photos/Videos:Â
https://drive.google.com/drive/folders/1JmFbKJ7Iywp5YX6z12MStMpxCqE3OBQP
FULL BUYER’S PACKAGE: https://conta.cc/45U2RQH
Map Link: https://goo.gl/maps/LUmtPHJvW9Uun1fc9
Profitable Property is excited to present this excellent 1 ¾ Storey Detached House right in the heart of Scarborough…the century-long construction on Eglinton ave is coming to an end, and this is your chance to take advantage of all the gentrification in the area!
At a price point of $859k, this property is the perfect blank slate for investors looking to optimize it to its highest and best use. Unlike most of the bungalows in the area, this house has a second storey. The second floor has 2 Bedrooms and an area that was once used as a Kitchen. This is perfect for an investor looking to turn that space into a luxurious ensuite washroom along with a closet. There is already a full washroom on the second floor, along with a full washroom on the main floor. The main floor also features a Bedroom, which is perfect for anyone looking to have a Bedroom or a large Office space in the main floor of the house. There is also a fully finished basement that could be turned into a 2 Bedroom unit. This property is a lot larger than it looks!
Currently, the house is in need of a full cosmetic update – a great opportunity for flippers looking to add a ton of value. The Roof, Furnace, HWT and Electrical Panel were updated in the last 10 years, leaving you with more money to focus on Cosmetic Renos.Â
Thanks to this property being steps away from the Eglinton LRT, this is a great deal for anyone looking to hold onto a solid asset in an A+ Location in Toronto that’s seeing unprecedented growth. Due to the advent of transit in the area, the neighbourhood is already seeing an increase in high density development. Tons of Potential on this Profitable Property!
Closing: October 31st, 2023
Map Link: https://goo.gl/maps/yUPpo8TVyHZdvGuBA
Property Highlights:
- A+ Scarborough Location (backing onto Treverton Park)
- Steps to Eglinton LRT
- 1 + ¾ Storey Detached HouseÂ
- 3 Bedrooms
- 3 Bathrooms
- Large 45 ft. x 95.5ft lot (Widens to 80 feet at the back)
- Brick Exterior
- Driveway ParkingÂ
- Hardwood and Tile Flooring Throughout
- Finished Walkout BasementÂ
- 7ft ceiling in BasementÂ
- Year built: 1955
- Taxes: $3,857.73/year(approx)
- Roof 2013
- Furnace 2013
- HWT Rental
- Some Windows have been ReplacedÂ
Suggested Renos:Â
Cosmetic Updates throughout, Potential to add an Ensuite Bathroom with Primary Bedroom, and a Basement Unit
Comparable Properties:
- 20 Moorecroft Cr sold for $1,291,000 on July 22nd, 2023
https://housesigma.com/web/en/house/dXze3eVzKbgY8m9K/20-Moorecroft-Cres-Scarborough-M1K3V1-E6680896
This property is very close to ours and also backs onto Treverton park! It was renovated nicely with contemporary finishes and sold for almost $1.3 million- that’s a whopping $432k over our price point! It’s the closest comparable we have to ARV.
- 908 Kennedy Rd S sold for $1,080,000 on August 12th, 2023
https://housesigma.com/web/en/house/6zqW7dz242vY5eZE/908-Kennedy-Rd-Scarborough-M1K2E8-E6630374
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!
- 4 Kim Crt sold for $1,099,999 on August 31st, 2023
https://housesigma.com/web/en/house/Z5BX321ezr57Dar0/4-Kim-Crt-Scarborough-M1K3R5-E6767740
This bungalow looks like it was well kept but is also fully dated with outdated carpet and finishes throughout the house. This is a good apples to apples comparison to our property – it sold for $1.1 million – that’s almost 250K over our price point.