Condo Townhouse in Mississauga! Assigned

  • $619,999
  • 3 beds
  • 2 baths
Assigned
2440 Bromsgrove Road, Mississauga, Ontario

Offer Date: FIRST COME FIRST SERVE
Closing Date: May 15th, 2024
*The seller has the option to extend closing up to June 12th, provided notice is given by April 30th*

*Buyer to pay sellers legal fees up to $1500. Additionally, buyer is to provide an additional deposit of $5000 directly to the seller which will be credited towards the purchase price*

** Realtors bring us a client and add your commission on top of the purchase price**

About the Property

Checkout this condo townhouse consisting of 3 bedrooms and 2 bathrooms. This property is in need of a full cosmetic renovation in order to return it to its former glory. The condo corporation is responsible for replacing the roof and windows. The backyard is unfenced and the interior could use some drywall work. The A/C unit is disconnected and will require some wiring/piping work as per the seller. This property would be perfect for an investor looking for a spring fix and flip. See below for recommended renovations and how this property can be profitable for YOU!

Property Details

  • Condo Townhouse
  • 3 Bedrooms
  • 2 Bathrooms
    • 1 full bathroom (located on the upper level)
    • 1 half bathroom (located on the main floor)
  • 1169 sqft above grade
  • 579 sqft below grade
  • Backyard is not fenced
  • Fuse panel, copper wiring
  • Basement is a finished living space
    • 9ft ceiling height as per seller
    • Main entrance leads directly to the basement
  • HWT is rented
    • 4 years old
  • Furnace is owned
    • 10 years old
  • A/C is owned. 10 years old
    • A/C is currently disconnected. The seller was told by an HVAC technician that some of the wiring/pipes would need to be changed
  • Roof was redone within the past 5 years
    • Responsibility of Condo Corp
  • Windows were replaced 20 years ago
    • Responsibility of Condo corp
  • Attached garage for one car
  • Built in 1976
  • Status Certificate included under pictures and more
  • Condo fees are $395
    • Covers water, roof & window replacement
  • Property taxes are $3429
  • Zoning is RM5

Recommended Renovations

  • Full cosmetic renovation
  • Some drywall repair
  • Consider updating the electrical panel
  • Seller has the option to leave junk behind so we would recommend budgeting for junk removal
Pictures and More
The Numbers

We are selling our assignable purchase contract for this excellent Fix or Flip or Rental Opportunity.

  • Wholesale Price: $619,999
  • We believe that this property is worth $680,000 “as-is” on the MLS
  • We believe that after a full cosmetic renovation this property will sell for at least $800,000 on the MLS
  • Buy now for 60K BELOW market value!

Comparable Analysis
  • Unit 38 – 2440 Bromsgrove Road sold for $775,000 in February 2024 after only 8 days on the market! This comparable condo townhouse sits in the same complex as the subject property and consists of 3 beds 3 baths. The comparable is larger in size and has 1 additional bathroom compared to the subject property. Additionally the comparable has a fenced backyard, unlike the subject property. The comparable presents itself better than the subject property but is still dated in parts of the home. Therefore, after adjustments, we believe the subject property would sell for $680,000 in “as-is” condition on the MLS.
  • 178 – 2440 Bromsgrove Road sold for $785,000 in November 2023 after only 10 days on the market! This comparable condo townhouse sits in the same complex as the subject property and consists of 3 beds 2 baths similar to the subject property. The comparable has the same layout as the subject property however it has been updated throughout. This comparable sold in November and the market has picked up since then. Therefore, after adjustments and a cosmetic renovation, we believe the subject property would sell for at least $800,000 on the MLS.
  • Unit 46 – 2440 Bromsgrove Road sold for $842,500 only 28 days ago. This comparable condo townhouse sits in the same complex as the subject property and consists of 4 beds 2 baths. The comparable is larger in size and has an additional bedroom compared to the subject property. The comparable has been mostly renovated throughout and has a larger fully fenced backyard. Therefore, after adjustments and a full cosmetic renovation, we believe the subject property would sell for at least $800,000 on the MLS.
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Price:
$619,999
Address:
Mississauga
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Condo
Year Built:
1976

Call 647-930-0291 for more details