| 1305 Redbank Crescent, Oshawa, Ontario
Offer Date: FIRST COME FIRST SERVE
Closing Date: June 28th, 2024
**Realtors bring us a client and add your commission on top of the purchase price**
About the Property
Looking for your next SLG Summer flip in Oakville?
Then checkout this condo townhouse consisting of 3 bedrooms, 2 bathrooms, and has a footprint of 1200 sqft. The property requires a full cosmetic renovation to maximize the ARV. This condo townhouse is an end unit townhouse with a generous sized lot! The basement is unfinished with no separate entrance and 7-7.5ft ceiling height. Both the furnace and A/C are owned but the HWT is a rental. This Oakville home is perfect for an investor looking for their next fix & flip project or an investor looking for a BRRR property in Oakville.
Call NOW! This deal will not last!
About the Neighbourhood
The subject property is located in Castle Green Neighbourhood of Oakville directly across from Whiteoaks Secondary School. The property is located just a short drive away from the Oakville Commons Shopping mall which hosts a number of different fast food places along with Shoppers Drug Mart, Food Basics, Hair Salon, Cinemas and more. Oakville also has a fantastic transit system, with the GO train (which is a 9 mins drive from the property) connecting east to Toronto and West to Hamilton.
Property Details
- Condo Townhouse
- 3 bedrooms upstairs
- 2 bathrooms
- 1200 sqft above grade
- 600 sqft below grade
- Unfinished basement with no separate entrance
- Ceiling Height is 7-7.5ft
- Property taxes are about $5271 per year
- 2 parking spots
- End Unit Townhouse
- Electrical panel is breaker
- Copper wiring as per seller
- Built in 1967
- Furnace is owned
- A/C is owned
- HWT is a rental with reliance
- Condo fees are $350
- Includes Roof, Windows, and Exterior Maintenance
- R7-6 Zoning
Recommended Renovations
- Full cosmetic renovation
- The seller has the option to leave junk behind so we would recommend budgeting for junk removal
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| The Numbers
We are selling our assignable purchase contract for this excellent FIX and FLIP or rental opportunity.
- Wholesale Price: $604,999
- We believe that this property is worth $660,000 on the MLS
- We believe that after a full cosmetic renovation, this property should be worth at least $750,000 on the MLS.
- Purchase today for $55K BELOW MARKET VALUE
Comparable Analysis |
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- Unit 5 – 1440 Sixth Line sold for $649,000 in February 2024 after only 9 days on the market! This comparable condo townhouse consists of 3 bedrooms, 2 bathrooms, and is located near the subject property but not in the same complex. Unlike the subject property this comparable is not an end unit, however, similar to the subject property this comparable is dated throughout. The condo fees for the comparable are $508 and the property was built in 1970. Therefore, after adjustments, we believe the subject property is worth at least $660,000 in “as-is” condition.
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- 24 – 1444 Sixth Line sold for $720,000 in March 2024 after 29 days on the market! This comparable condo townhouse consists of 3 bedrooms, 2 bathrooms, and is located near the subject property but not in the same complex. Unlike the subject property this comparable is not an end unit, however, similar to the subject property this comparable is dated throughout. The comparable does have a kitchen in the basement but there is no separate entrance and the property is on baseboard heating. The condo fees for the comparable are $498 and the property was built in 1970. Therefore, after adjustments, we believe the subject property is worth at least $660,000 in “as-is” condition.
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- 1277 Redbank Crescent sold for $750,000 in February 2024 after 25 days on the market! This comparable condo townhouse consists of 3 bedrooms, 2 bathrooms, and is located on the same street as the subject property. Unlike the subject property this comparable is not an end unit, however, it has been completely renovated throughout. The comparable does have a finished basement. The condo fees for the comparable are $350 and the property was built in 1967. Therefore, after adjustments and a full cosmetic renovation, we believe the subject property would sell for $750,000 on the MLS.
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