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Walk to Lake! Stacked Condo Townhouse - Cosmetic Fix or Live-In Flip

Aaron Moore

0
REIN Member
Joined
Oct 22, 2008
Messages
127

Skip the Heat Wave and Do A Fall Flip Instead!​


Great location on the Guildwood/Scarborough Village border! Walking distance to the lake, and close to Guild Park & Gardens, Scarborough Golf & Country Club, GO Station, and TTC.

How can you profit?
1) Easy Flip:
buy for $525k, do some basic cosmetic updates, and sell in the $620s or more. Great opportunity for a realtor flipper! A similar property just listed for $650k on MLS.
2) Move In: this house is dated, but if you're not bothered by old cabinets, move in! Enjoy the built-in equity in a great area of Scarborough and renovate slowly to suit your tastes.

SUMMARY:
- LOCATION: Scarborough, ON (Kingston Rd & Eglinton Ave)
- PURCHASE PRICE: $524,900 Or Best Offer
- AFTER REPAIR VALUE: $620s or more
- CLOSING: September 5 - October 5, 2023 (At seller's discretion. This is an assignment sale.)

- TYPE: 2 Storey Stacked Townhouse
- BEDS/BATHS: 3 Beds/1.5 Baths
- PARKING: 1 Indoor Space
- SQFT: 1360 sq. ft.
- AGE: 1977
- CONDO FEES: $710.52/month includes water
- PROPERTY TAX: Approx $1300/year
- HEATING: Electric Baseboard

RENOVATIONS NEEDED:

- Cosmetic updates required. Update kitchen, baths, flooring, wash/paint the walls.
- Some junk and furniture removal.
- Please view the pictures and videos for ideas on what you'd like to renovate.

GOOD NEWS:
- Longer closing means lots of time to get a bank mortgage.
- Some main floor flooring is newer.
- It's a condo...leave the big buck stuff to the condo board! Focus on cosmetic renos only.

MORE PICTURES and our contact info are here: https://www.housedealsgta.ca/property/scarborough-ontario-condo-investment/
 
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