Legal Duplex At A Discount. Low $400s!

Aaron Moore

Frequent Forum Member
REIN Member

Want a duplex without the conversion?


How can you profit?
1) Market rents for a property of this type are approximately $1500/month. As tenants move out you can renovate, raise rents, refinance and hold a profitable property.
2) Politely encourage tenants to move or offer “cash for keys”.
3) Package this purchase together with our other 4plex in Brantford, if you're so inclined. They both have the same property manager so it would be an easy transition. Add 6 managed units to your portfolio instantly for just over $1M!

SUMMARY:
- LOCATION: Brantford, ON (St Paul Ave & Terrace Hill St)
- PURCHASE PRICE: $417,900 Or Best Offer
- AFTER REPAIR VALUE: Mid $500s

- CLOSING: January 2, 2023 (This is an assignment sale.)
- TYPE: Legal Duplex
- BEDS/BATHS: Each unit has 2 beds/1 bath, rented at $920/month each. Market rents are around $1500/month.
- PARKING: 1 spot
- BASEMENT: Unfinished. Main floor tenant has access.
- SQFT: 1610 sq. ft.
- LOT: 34' x 120'
- AGE: 1900
- PROPERTY TAX: $3150

RENOVATIONS NEEDED:
- Currently tenanted with long term tenants. You can save updates for turnover time.
- One kitchen needs updating.
- Some junk and furniture removal.
- Please view the pictures and videos for ideas on what you'd like to renovate.

GOOD NEWS:
- Legal duplex. No conversion necessary.
- Current property manager would probably be thrilled to stay on, if you like.
- Chance to purchase this property and a nearby 4plex together.

PICTURES are here: https://www.housedealsgta.ca/property/investment-real-estate-brantford/
 
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