| William Street, Toronto, Ontario
Offer Date: October 4th, 2022
Closing Date: October 28th, 2022
About the Property
Check out this quaint detached bungalow in need of a full cosmetic renovation to bring it back to life! The property is located in Toronto and consists of 2+1 bedrooms and 2 bathrooms. There is potential to add another unit in the basement as the zoning allows for a secondary unit, buyer to verify. The basement has a separate entrance and the ceiling height is about 7ft. As you can see, this structurally sound property has a ton of potential and would benefit from a FULL cosmetic renovation! This property is perfect for an investor or developer looking for a fall fix and flip project or BRRR opportunity.
About the Neighbourhood
The subject property is situated in a desirable neighbourhood of Toronto. The property is a short drive to downtown and Pearson airport. The subject property is close to a number of different highways including the 401, 407, 400, 409 and the 427. The subject property is close to countless amenities such as restaurants, Shoppers Drug Mart, McDonalds, Canadian Tire, Shopping Malls, Schools, and much more. The Weston GO station is located less than a 10 minute walk to the property.
Property Details
- Detached Bungalow
- 2+1 bedrooms
- 2 bathrooms
- 712 sqft above grade
- 694 sqft below grade
- Finished basement
- Separate entrance
- Basement height about 7 ft
- Property taxes are about $2725
- No A/C
- Furnace is owned but needs to be replaced
- Roof was redone roughly 10 years ago, in good condition
- Windows are an older vinyl
- Detached 1 car garage – shingles and door should be replaced
- The HWT is a rental but needs to be replaced
- Breaker Panel, copper wiring
- Built in 1940
- 30ft x 120ft
- RD Zoning
Recommended Renovations
- Full Cosmetic Renovation
- Many of the plaster walls will need to be replaced
- Replace garage door and shingles
- Replace the furnace, HWT, and windows
- Consider adding an A/C
- Consider adding another unit in the basement
- Seller has the option to leave contents behind so we recommend budgeting for junk removal
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| The Numbers
We are selling our assignable purchase contract for this excellent FIX and FLIP opportunity.
- Wholesale Price: $674,999 or Best Offer
- We believe that this property is worth $765,000 as-is on the MLS
- We believe that after a full renovation this property should be worth at least $1,100,000 on the MLS
- We believe that after building a brand new home, this property should be worth at least $1,450,000 on the MLS
- Purchase today for $90K BELOW MARKET VALUE!!
Comparable Analysis |
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- 1925 Lawrence Ave West sold for $825,000 in September 2022. This comparable consists of 2+2 beds 2 bath and is similar in size as the subject property. The comparable is on a main road, sits on a similar lot size and it has an in-law suite in the basement. The comparable is completely dated throughout and would require a full renovation to maximize ARV. Therefore, after adjustments, we believe the subject property should sell for at least $765,000 “as-is” on the MLS
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- 1825 Lawrence Ave West sold for $1,000,000 in September 2022. This comparable consists of 3+1 beds 2 baths and sits on a slightly larger lot size. The comparable is larger in size and completely dated throughout. The comparable has a detached garage along with a separate entrance to the in-law suite in the basement. Therefore, after adjustments, we believe the subject property should sell for at least $765,000 “as-is” on the MLS
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- 29 Battersea Crescent sold for $1,280,000 in July 2022. This comparable consists of 3+2 beds, 2 baths, and is larger than the subject property. The comparable sits on a larger lot size and has been renovated throughout with modest finishes. The comparable has a separate entrance to an inlaw suite in the basement. Therefore, after a full cosmetic renovation, and depending on finishes, we believe the subject property should sell for at least $1,100,000 on the MLS.
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- 28 Monarchdale Avenue sold for $1,750,000 in September 2022. This property is a brand new build with premium but not overly luxurious finishes. The property includes 4+2 beds, 4 bathrooms, sits on a larger lot and has a double detached garage in the backyard. After adjustments and depending on the finishes, we believe that a new build home on the subject property would sell for at least $1,450,000 on the MLS.
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| Need Financing? |
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| Looking for a construction cost estimate?
SLG Capital will manage the construction of this project from start to finish. If you’re looking for an estimate please email info@slgcapital.ca |
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