Wholesale 2-Unit with LEGAL Basement Apartment

aaronmoore

Frequent Forum Member
REIN Member
Who’s looking for a great deal? You choose how you want to profit...
1) Nice rental property. Renovate, Rent, Refinance. It's already a legal 2-unit so the reno will be a lot easier.
2) If you keep your reno costs low, this is can be a fix & flip opportunity too.

SUMMARY:
- LOCATION: Ajax (Bayly & Pickering Beach Rd)
- PURCHASE PRICE: $589,900 Or Best Offer
- AFTER REPAIR VALUE: Couple recent sales over $700,000.
- CLOSING: March 19, 2021 (This is an assignment sale.)
- TYPE: Semi-Detached Bungalow
- BEDS/BATHS: 3 + 1 Bed, 2 Bath
- BASEMENT: Legal Basement Apartment
- PARKING: double driveway with 4 spots + detached 1.5 car garage
- SQFT: 994 sqft (But let's call it 1000!)
- LOT: 37.5' x 115'
- AGE: 1957
- PROPERTY TAX: $3,840
- RENTS: Approx $3000-$3500 (Vacant possession will be given)

RENOVATIONS NEEDED:
- The Upper Unit needs a full cosmetic reno (new kitchen, bathroom, flooring, etc)
- Some junk and furniture removal
- AC is old
- Please look at the pictures for more ideas.

GOOD NEWS:
- It has a LEGAL basement apartment updated in 2016. Legalized in 2009. Which means the hard work has already been done!
- Roof and windows look good and are under 10 years old.
- Furnace is under 5 years old.
- Big Garage
- Lots of parking

PICTURES are here: https://www.housedealsgta.ca/property/investment-properties-for-sale-ajax-on/
 
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