Contractor Special! Cheapest Duplex In All Of Peterborough!
VACANT POSSESSION
$350K+ Below ARV!!
273 Dalhousie St
Peterborough, ON
WHOLESALE PRICE OF $249,000 OBO
BY Thursday, September 2nd, 2021
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This is an opportunity of a lifetime for a Vacant Duplex! Cheapest Duplex sold in Peterborough in the last three years with over a 300-400k spread and more than double the value of investment. This 2 ½ storey duplex in downtown Peterborough sits on a large 39x110ft lot, has a 2BR unit on the main floor, and a 3+1 in the Second floor and attic loft, with a large lot for double lane car, and a separate basement which can accommodate for a third 1BR/bachelor unit. This house requires extensive exterior renovations, and cosmetic renovations within interior (flooring, painting, kitchen cabinetry, appliances, patch up open drywall areas). Electrical, bathrooms and plumbing may be left as-is. The house was tenanted up to Aug 17th 2021.
Due to a building inspection stemming from a fire next door, this house has an unsafe building work order from the city of Peterborough, due to failed foundation and mold in the basement walls. Temporary shoring has been placed by a professional engineering firm throughout the house. Structural engineering report on work required, and city work order can be found attached to the listing detail link below.
Structural & Foundation Report – 273 Dalhousie
We are selling our assignable purchase contract. Please do not visit inside the lot line, and site unseen offers only due to unsafe work order from city.
Work Needed:
- Exterior:
- Southwest Foundation Wall is cracked and deteriorated. Bricks and parging are crumbling and falling. Both the stone foundation wall and cracked section of bricks likely need to be replaced
- Basement Foundation interior walls have molds and water marks due to deteriorated waterproofing, and likely need to be waterproofed again from the outside
- Front and east porch have deteriorated deck board and rotting posts which need to be replaced
- Some windows (at least four) need to be retrofitted due to missing glass
- Roofing: Requires new eaves trough and downspouts, fix open section within roof soffit at back, new shingle lower roof apron on north and east side
- Interior:
- New flooring & Re-levelling
- Painting
- Kitchen Cabinetry replacement where necessary
- Re-level basement stairs
- Drywall patch-up where ceiling wall was removed for temporary shoring of joists
How to profit: Comply with building order, and collect over $45k in gross rent by converting to triplex or 36k as-is on a duplex, or sell it for over $600k.
Closing: September 17, 2021 (Extension Is Possible, Please Inquire)
NEXT STEPS
Please let us know if you want to view the property or if you require any more details and information.
- Wholesale Price: $249,000 OBO
- Offer Deadline: Thursday, September 2nd, 2021
- Closing Date: September 17, 2021
- Please call us at 647-905-9222 anytime OR Email us at info@nextbrickrealty.com
COMPARABLES:
$575,000, Duplex, 214 Park Pl, Peterborough, X5127720
$599,000, Duplex, 285 Dalhousie St, Peterborough, X4957700
$599,900, Duplex, 734 George St N, Peterborough, X5301108, Sold
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.