Belleville Duplex Conversion or Flip Project – Only $298k🤑
Wholesale Price: $298,800 (Assignment Fee Included)
***Bridge St W & Sidney St , Belleville, ON***
Photos/Videos:Â
https://drive.google.com/drive/folders/1V2bVueBwcbB6-WMDdpL541poEZ4dXXsR
FULL BUYER’S PACKAGE: https://conta.cc/40KYZjo
Map Link: https://maps.app.goo.gl/GhW4RpzxQbzkDtCw8
Profitable Property is excited to present this large house on a large lot in Belleville at a super discounted price point! You’d be hard pressed to find any properties in Belleville at this price point in today’s market!
Sitting on a 61 ft lot, this property could be an ideal opportunity for anyone looking for a Duplex Conversion- there is a large extension that features a basement with a 7ft+ ceiling. The property also has 2 separate driveways, providing you with ample parking for 8 cars! This property was originally a 2 storey home built in 1938, with an addition added in the early 1990s. The property is much larger than it looks, and is a perfect blank slate for investors looking to bring the property to its highest and best use.
Currently, the house is in need of a full cosmetic update along with some plumbing and electrical work. There is a sewer backup in the basement along with some knob and tube that has to be removed. An investor should also budget for junk removal and cleaning. The breaker panel has already been updated to a 100A Panel. The Roof, Furnace and HWT are in good shape, leaving you with more money to focus on Cosmetic Renos.Â
Thanks to this property’s super entry level price point, there is enough spread to spend money on a large reno/duplex conversion and still be profitable – get your hands on this profitable property today!
Closing: December 18th, 2023
Property Highlights:
- 2 Storey-Detached House with an Extension
- 61 ft x 111 ft lotÂ
- 2 Driveways with Parking for 8 cars in total
- 3 Bedrooms
- 2 Full WashroomsÂ
- 2 Large Living Areas
- Brick Exterior
- Detached Shed
- Hardwood and Tile Flooring Throughout
- 2 Entrances to the Basement from the house
- 7ft+ ceiling in BasementÂ
- Year built: 1938
- Extention Added: 1990s
- Taxes: $$3,293.28/year(approx)
- R4 Zoning
- Roof 2009
- 100 AMP Breaker Panel
- Furnace around 6 years old
- HWT Rental
- Most of the Windows with the exception on the basement windows have been replaced
Suggested Renos:Â
Junk Removal, Full Cosmetic Update, Convert to a Duplex, Update Plumbing and Electrical
Comparable Properties:
- 18 Ritchie Ave sold for $693,000 on August 15th, 2023
https://housesigma.com/web/en/house/bEDRYaGLm0N71VaB/18-Ritchie-Ave-Belleville-K8P3V9-X6737310
This property would be a good example of what our property could be worth after a full renovation and nice finishes throughout. Located only 350m away from our property, this house is of similar size and sits on an identical lot. It sold for $693k in August – that’s almost $500k over our price point!
- 23 Robertson Lane  sold for $400,000 on October 16, 2023
This bungalow is a smaller property that needed a full cosmetic update. It had a dated kitchen, along with dated hardwood floors and only had one driveway. It still sold for $400k in October- that’s $100k+ over our price point!
- 91-93 Yeomans st sold for $470k on October 31st, 2023
This Legal Duplex is fully dated and has long term tenants(under market rents). It needed to be updated and did not show well – it still sold for $470k less than a month ago, giving our property a $170k+ spread to this property.