Convert to 2 Units, Flip, or Move In - Raised Bungalow in HOT Neighborhood

Aaron Moore

Frequent Forum Member
REIN Member
Who's looking for a profitable property?

You can live in this house as-is, but some nice upgrades would give it that WOW factor. It's nestled in a highly sought after neighbourhood in Holland Landing (near Newmarket), just minutes from the 404. There's a nice big backyard and deck and the street is lined with mature trees. Move in, flip, or convert this one to two units...the choice is yours!

GTA house prices increased slightly in August. We expect the market to improve in the fall as it usually does. Don't miss your opportunity to buy the dip!

How can you profit?
1) 2-Unit Conversion:
Do what some neighbours did and turn the basement garage into more living space. Rental income for a 3+1 in the area would be in the $3500-$4000/month range.
2) Easy Flip: The recent sold comps in the $900k+ range weren't fancy. Minimal renos needed to fetch that price. Make it fancy, get more $$$!
3) Move In: Realtors, add a nice fee on top for yourself and move your clients in now! There's just enough time to get a bank mortgage on this one.

SUMMARY:
- LOCATION: Near Newmarket! Holland Landing, ON (Mt Albert Rd & Holland River Blvd)
- PURCHASE PRICE: $699,900 Or Best Offer
- AFTER REPAIR VALUE: $900k+ based on summer sales.

- CLOSING: October 24, 2022 (This is an assignment sale.)
- TYPE: Raised Bungalow - Detached
- BEDS/BATHS: 3 Beds/1.5 Baths
- PARKING: 4 Driveway Spaces Plus 2 Car Basement Garage. Some neighbours have converted the garage space into additional living space.
- BASEMENT: Finished
- LOT: 55' x 120'
- AGE: 1975
- PROPERTY TAX: Approx $3613

RENOVATIONS NEEDED:
- Cosmetic renos to flooring and bathrooms if desired.
- Some junk and furniture removal.
- Please view the pictures and videos for ideas on what you'd like to renovate.

GOOD NEWS:
- The nice big beautiful backyard and deck.
- Newer kitchen and stainless steel appliances.
- New steel roof.
- Newer furnace and A/C. Kept old baseboard heating as well as a backup.

PICTURES are here: https://www.housedealsgta.ca/property/wholesale-real-estate-holland-landing
 
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