Discounted 2+1 Bed Detached Flip or Rental Opportunity (Secondary Dwelling Unit!) in Hamilton – Westdale!
VACANT POSSESSION
$65K+ Under Market Value!!
Carling Street
Hamilton, ON
WHOLESALE PRICE OF $779,000 OBO
BY Monday April 4th, 2022, 5:00PM
MAP HERE
This is a great investment or end-user property with many options! This detached house features 2+1 bedrooms and 2 bathrooms, and has a separate in-law suite in the lower level with its own two walk-out entrances and private bathroom. The lower level features a bachelor style unit, with plumbing and electrical already in place to easily add a full kitchen. Currently, this in-law suite has a range hood and fridge installed. The upper level was originally a 3 bedroom house converted into 2 bedrooms, and can be converted back for a greater valuation. Upstairs currently features a large living room, open concept kitchen, large pantry, and bedrooms. The upstairs level bedroom and newly created living room also have separate exterior entrances allowing those to be rented separately to maximize cash flow.
Walls are Styrofoam insulated with block foundation construction, and the house is in good shape overall. It requires cosmetic renovations and decluttering.
There is space for three cars to be parked.
The property is located in the family and student friendly, desirable neighbourhood of Westdale, minutes from McMaster University, Princess Point, public transit, amazing parks, schools coffee shops, shopping & entertainment. The location is also close to Highway 403, making it very accessible to owners or tenants.
We are selling our assignable contract for this purchase.
Closing: June 30, 2022
* As per our APS, seller will exclude a bi-fold oak door located in the upper level, and a 24 inch stove *
SUMMARY & FEATURES
- Main Floor features a open concept kitchen, living room, 2 bedrooms, bathroom and multiple entrances.
- Lower Level features a front door separate walk-out, side entrance, in-law suite bachelor style suite with a full bathroom and partially completed kitchen (plumbing and electrical is readily available for a full kitchen).
- Total Interior Space – 1,600 sq ft (as per Seller)
- Forced Air/Gas Heating, Central A/C
- HWT is rented
- 100 Amp breaker panel
- Concrete/Brick Exterior
- 3 Private Driveway Parking Spaces
- Lot Size: 40 ft x 100 ft
- Zoning: Residential
- House will be vacant on closing date
PROPERTY STRATEGIES & WORK NEEDED
- Adding stove and basic cabinetry in basement for a full standalone Secondary Dwelling Unit
- Complete deck construction to fully utilize the walkout patio from the upper level living room
- Painting and Decluttering
- Re-tile and tub-surround in the second floor bathroom to prevent water seepage (hole is currently covered, with no visible water damage)
NEXT STEPS
Please let us know if you want to view the property or if you require any more details and information.
- Wholesale Price: $779,000 OBO
- Property Viewing: Sight Unseen offers preferred, viewing can be organized for serious offers
- Offer Deadline: Monday, April 4th, 2022, 5:00PM
- Closing Date: June 30, 2022
- Please call us at 647-905-9222 anytime OR Email us at info@nextbrickrealty.com
COMPARABLES:
We believe our property is worth $845,000 As-Is. We believe with some tasteful cosmetic renovation, and an exterior cleanup/landscaping to improve the curb appeal, the ARV on this property can be $900,000+. Alternatively, rent out the property for the long-term with positive cash flow.
59 Longwood Rd N: Sold in Mar 2022, for $850,100 (5 DOM). 2+1 Bdrm, 2 Bath house. This is a smaller house than our property, but is cosmetically updated. This house is rented with 2 tenants which had to be assumed by the buyer.
72 Barclay St: Sold in Mar 2022, for $850,000 (8 DOM). 2 Bdrm, 2 Bath house. This house is in original condition but has been well kept. Partially finished basement whereas our house has a finished basement.
WE MAKE THE OFFER PROCESS SIMPLE AND EASY TO UNDERSTAND.
If you decide you would like to purchase the property, please let us know – send in your offer & deposit amount, along with your name and contact details. If accepted, we will prepare and send the contract to you.
Please do not go directly to the address.
FINANCING OPTIONS:
Financing options are available for the assignment fee and for the purchase, with competitive pricing and terms. Please let us know if you are interested in this and we can provide further details.