Unique Two-Level 3 Bedroom Condo at a Huge Discount in Toronto
$250K+ Spread on this***South Kingsway & Ormskirk Ave***
Photos/Videos/Comps: https://conta.cc/3NUHjdZ
Wholesale Price of $630,000(Assignment Fee Included)
Closing : July 29th
Looking for a condo flip project? Here’s your chance to buy a unique Two-level 3 bedroom condo in the highly desirable Swansea area in Toronto. Properties like this are rarely available – Located on the topmost floor of a well maintained building, this 1324 sq.ft 3 bedroom condo is spread out on two levels – the Main Level contains the kitchen, living area, dining area, kitchen and balcony. The Second Level houses the 3 bedrooms and the bathroom. This unit offers stunning views of the Humber valley, and the 21 ft. wide balcony is large enough to accommodate patio furniture to enjoy the summer weather.
Properties like this are highly coveted – they offer the space and privacy of a house without the heavy price tag and upkeep attached to it.
This condo is dated and is a perfect flip candidate – a full cosmetic update and new appliances will make this unit looking stunning. For those looking to keep the property after renovating it, know that rents are in the $3500+ range for similar units.
Get it today at a super discounted price of $630K. With some renovated examples going for over $1M, there is a large enough spread built in to reap a healthy profit!
Property Highlights:
-
Two-Level Condo
-
1324 sq.ft.(approx)
-
3 Bedrooms, 1 Washroom
-
1 Parking Spot
-
1 Locker
-
Large 21ft Private Balcony
-
Ensuite Laundry
-
Triple Pane Windows
-
Condo Fees: $880.38 includes all utilities and building insurance
-
Taxes: $2948/year(approx)
-
Building Amenities include Swimming Pool, Fitness Center, Tennis Court, Sauna, Games Room
-
Well maintained buildings with updated hallways and common areas
Suggested Renos:
Full Cosmetic Update, New Kitchen, Junk Removal, Clean Up
Comparables:
1) 502 – 35 Ormskirk Ave sold for $1.03 Million in March(6 DOM)
Very similar layout and located in our property’s sister building. This is a great example of what our property can look like once it has been reno’d.
2) 905 – 60 Southport St sold for $1 Million in March(5 DOM)
Same building, same floor, and similar layout – this neighbouring unit was nicely renovated and has an extra powder room, but a much smaller balcony than ours. Sold for over $1M in March!
3) 303 – 35 Ormskirk Ave sold for $875K in March(7 DOM)
This property is smaller than our property in terms of total square feet and balcony size and it is not as nicely renovated as the above comps. Still sold for $875K in March!
Rental Comps:
703 – 65 Southport St.
Rented for $3600 in April(11 DOM)
Are you thinking about renovating and holding till the market picks back up.. Rental demand is consistently growing in the GTA and similar units have been renting for $3600+. This unit will easily carry itself.