This property is one for the books! Incredible potential and the ability to have 2 units on the purchase and potentially create a third if done creatively! This detached 1.5 story property already has a 1 bedroom apartment (non-legal). It is self-contained and has its own beautiful balcony. It also has its own panel and meter! It could be considered as an in-law suite- The main floor has a 3 bedroom unit with a brand new kitchen and granite countertops (+50K renovation) and has new hardwood flooring throughout the dining room, kitchen, and hallways. A separate entrance is available for the unfinished basement which contains a bar and fireplace with custom masonry finishes. A bathroom rough-in is completed in the basement and would be ideal for creating a 3rd unit. The property is zoned for duplexes, but a sophisticated investor could rent out the upstairs and main floor unit to a family and their mother-in-law, and create a legal unit in the basement – can you smell the cashflow? The property is R1B zoning – buyer to verify.
The location of this property is ideal as it is only a 20 min walk from the Brampton Go Station and is only a 5 min walk to Archdechin Park – famous for its cherry blossoms. This is one of the nicer pockets of Brampton, and a house across the street was just torn down and re-built into an ultra-lux property.
At a purchase price of only $749,000.00, this property is a steal for anyone looking to get an income property in a desirable area in a super hot market.
Time to make 2021 the year of opportunities!
We are selling our assignable purchase contract.
- 1 + 3 bedrooms
- 2 full bathrooms (a 3rd bathroom in the basement exists, but needs to be redone)
- Built in 1950
- Above grade: 1600 sq ft (as per MPAC)
- Basement: 1120 sq ft (as per MPAC)
- Ceiling height of approximately 6’8” – one 10” duct would need to be modified to comply with the building code for a legal accessory unit.
- Main entrance has a common lobby and separate doors for the main floor and upstairs units. There is a separate basement entrance that could be used to enter the property.
- New hardwood flooring on the main floor (1 year old)
- Brand new kitchen with granite countertop (1 year old)
- 200 AMP breaker panel
- HE gas furnace installed 2015/2016 (as per Seller)
- HWT is a rental (as per Seller)
- Central AC installed older
- Central Vaccum system available
- 1-car, detached garage
- 5 Parking comfortably and could get 6!
- Lot size: 65 ft x 117 ft
- Zoning: R1B
- There are properties on this street with legal accessory units registered with the city – https://www.brampton.ca/EN/residents/Building-Permits/second-dwelling/List%20of%20Registered%20Properties/Two-Unit_Dwellings_Register.pdf
- Update the 3 bedrooms on the main floor
- Complete basement to taste
- Adding some roof vents and shingles as per home inspector
Wholesale Price: $749,000 OBO. We believe this property is worth ~$800,000 once the property has been emptied and cleaned. We believe the ARV will be+ $850,000 after the above renovations. Some realtors have discussed ARV well into the 900s, but we like to be conservative 😉
Click here for more pics, video, MPAC and Home Inspection Report.
OFFER AND CLOSING:
Offer Deadline: February 14th, 2021
Closing: March 23rd, 2021
If you are interested and serious, please contact Paul at email@example.com to present your offer. We will also consider offers sight unseen, but only if you’re 100% certain that you want the property.
A one time showing will be organized for the top offers.
Please do not go directly to the address.
Realtors, add your commission amount and bring us a buyer!