FULL BUYER”S PACKAGE: https://conta.cc/3LjrVHj
Wholesale Price: $625,000(Assignment Fee Included)
No mistakes in the price here. Yes, this is a 4 Bedroom Fully Detached Backsplit in Toronto for under $650K!
This Rouge Hill property is located in one of the best areas of Scarborough – right along the Pickering border and close to all amenities, including Rouge Park. With easy access to the 401, and within close proximity to the Toronto Zoo and many other amenities, this is a great property for any investor looking to take on a project in a great neighbourhood.
This property is currently a shadow of its former self. It was left vacant for a few years and subsequently, it is in need of a full gut reno. A new roof, new HVAC, new plumbing and electrical will be needed along with all the cosmetic items. This is a project for serious buyers with cash/private funds who can execute a full-blown renovation looking for a lucrative return.
Due to the scope of work required, it is a perfect blank slate for investors with different goals – a duplex conversation, a full renovation to flip, a student rental or a future primary residence that’s built to your taste. With a $500k spread, the choice is yours!
In the City of Toronto, it is almost unheard of to be able to purchase a property at less than sixty cents on the dollar. This deal is available to you today with a $500k spread to ARV. What else can you call a Profitable Property?
Closing: October 14th
- A+ Toronto Location (close to Pickering border)
- 4-Level Backsplit Property (Larger than it looks!)
- 1947 sq. ft. (according to MPAC)
- 4 Bedrooms
- 2.5 Bathrooms
- Double Car Garage
- Wide Driveway with Interlocking
- 50 x 101.38 lot
- 7 ft ceiling in Basement
- Taxes: $3402/year(approx)
- Vacant Possession
Full Gut Renovation, Junk Removal,
Possibility to do a Duplex Conversion
3 Bonnydon Cres
This property sold for 1.11M on August 15 (11 DOM). This property is on a much narrower lot but is deeper. It has the same number of beds and baths as our property. As you can tell from the photos, this property is very outdated. Imagine what you could fetch for a property that has been completely renovated!
281 Conlins Rd
This property sold for 1.19M on August 30th (6 DOM). This property is on a similar lot and in a desirable neighbourhood. This property had one additional bathroom and 2 more rooms. With the layout of our property, you could design it to have more bedrooms to match a similar profile.
52 Lionhead Tr
This property sold for 990K on September 2nd. This is a linked property and is on a lot that is almost half the size of our subject property. We don’t consider this to be a great comparable as our’s is detached and has a double car garage. This was included to show you the value of the street!