Wholesale 2 or 3-Unit Property. Garden Suite Potential.

aaronmoore

Frequent Forum Member
REIN Member
Who wants a property that has awesome multi-family potential?

It appears you can convert this bungalow to a 2-unit and also add a Garden Suite. It fronts and backs onto two different streets giving it a unique setup for a Garden Suite.

SUMMARY:
– LOCATION: Millbrook, ON (Between Peterborough & Bowmanville, by the 115)
– PURCHASE PRICE: $479,900 Or Best Offer
– AFTER REPAIR VALUE: Probably over $600k as a beautiful legal 2-unit. Much more as a 3-unit.
– CLOSING: August 2021 (This is an assignment sale.)
– TYPE: Detached Bungalow
– BEDS/BATHS: 2-3 Bed/1Bath (Part of the large sun room can be made into a 3rd bedroom.)
– PARKING: Lots! About 9 spaces. 6 in driveways + 3 car garage.
– BASEMENT: Unfinished, high ceilings, entrance by basement stairs.
– SQFT: 1389 sqft
– LOT: 84′ x 132′
– AGE: 1963
– WATER/SEWER: Municipal (Not Septic, Not well)
– RENTS: $3,000+ per month. It’ll be comparable to Peterborough or Clarington. You can drive to Peterborough or Clarington in 20-25 minutes. People can live here and work in nearby cities.
– PROPERTY TAX: $3,496.94

RENOVATIONS NEEDED:
– The house could use updates. The finishings are dated.
– Some junk and furniture removal
– Please view the pictures and videos for ideas on what you’d like to renovate.

GOOD NEWS:
– Fronts and backs on two different roads. Cool!
– Triple garage with heated workshop.
– It looks like you can turn this property into a legal triplex.

PICTURES and 2nd suite details are here: https://www.housedealsgta.ca/property/wholesale-duplex-homes-ontario/
 
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