Condo in Brampton Assigned

  • $354,999
  • 1 beds
  • 1 baths
  • 915 sqft
Assigned

Condo in Brampton!

Fix & Flip or BRRR Opportunity

$85K BELOW Market Value!

330 Mill Street

Mill Street, Brampton, Ontario

Offer Date: October 21st, 2022
Closing Date: November 30th, 2022

About the Property

This condo consists of 1+1 bedrooms 2 bathrooms and is a total of 915 sqft. The unit includes one underground parking spot and one storage locker (approximately 3ft x 5ft x 8ft). The unit has 2 electric heat pumps: one that controls the main area and one that controls the bedroom.  There is carpet throughout the main area and in the bedroom that would need to be replaced. The property is outdated and could benefit from a FULL cosmetic renovation. This property is perfect for an investor looking for a winter fix and flip or BRRR project.

About the Neighbourhood 

The subject property is situated in the South end of Brampton. The subject property is located about a 20 minute drive from the Brampton Hospital and a 5 minute drive to the downtown core. Brampton is located East of Vaughan and North of Mississauga. The subject property is located near countless amenities including, FreshCo, Home Depot, Shoppers Drug Mart, Starbucks, LCBO, Sobeys, restaurants and much more. The subject property is North of the 401 and 407.

Property Details

  • Condo Apartment
  • 1+1 bedrooms
  • 2 bathrooms
    • 1 full bathroom
    • 1 half bathroom
  • 915 sqft
  • One underground parking spot, one storage locker
  • Property taxes are about $1925
  • Condo fees are $820.66 as per seller
    •  Heat, Hydro, water, external landscaping, snow removal, windows
  • Ductless split
  • Original heat and cooling pump
    • Maintenance covered by owner, last maintained in June
  • Roof and windows are maintained by the condo corporation
  • Status Certificate is in the dropbox
  • Breaker Panel – Copper Wiring
  • Built in 1987

Recommended Renovations

  • Full cosmetic renovation
  • Seller has the option to leave contents behind so we recommend budgeting for junk removal
Pictures and More
The Numbers

We are selling our assignable purchase contract for this excellent FIX and FLIP opportunity.

  • Wholesale Price: $354,999 or Best Offer
  • We believe that this property is worth $440,000 as-is on the MLS
  • We believe that after a full cosmetic renovation this property should be worth at least $525,000 on the MLS
  • Purchase today for $85K BELOW MARKET VALUE!!

Comparable Analysis

  • 220–8351 Mclaughlin Road South sold for $460,000 in October 2022. The comparable is a condo located in the same neighbourhood. The comparable is smaller in size with lower condo fees. There is one parking spot assigned to the condo but no locker. The comparable is a 1+1 beds 1 bath unit and is mostly outdated throughout. Therefore, after adjustments, we believe the subject property would sell for at least $440,000 “as-is” on the MLS.
  • Unit 1108 – 320 Mill St South sold for $560,000 in September 2022. The comparable is a condo in the next building but through the same property management. The comparable is slightly larger in size with lower condo fees. There is one parking spot assigned to the condo but no locker. The comparable is a 1+1 beds 2 baths unit and has been somewhat updated throughout. We believe after adjustments and a full cosmetic renovation, the subject property should sell for at least $525,000 on the MLS.
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Need Financing?
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

If You’re Interested….

Email us at info@slgpropertydeals.ca or call Jocelyn at 647-930-0291. Jocelyn can answer any questions you have and set up a time to view the property.

 

Please Do Not Go Directly to the Property

 

Disclaimer: The contents of this email are for informational purposes only. We are not home inspectors or appraisers. Please ensure you do your own due diligence.
Price:
$354,999
Address:
Brampton, ON
Square Feet:
915
Bedrooms:
1
Bathrooms:
1
Terms:
Assignment of Contract
Property Type:
Condo
Year Built:
1987

Call 647-930-0291 for more details