Detached Bungalow in East York, Toronto! Assigned

  • $734,999
  • 3 beds
  • 2 baths
Assigned

Detached Bungalow in East York, Toronto! 

Fix & Flip or Duplex Opportunity!

$105K BELOW Market Value!

Barrington Ave, Toronto

Offer Date: FIRST COME FIRST SERVE
Closing Date: April 30th, 2025
**Realtors bring us a client and add your commission on top of the purchase price**

 

About the Property

Checkout your next Fix & Flip or Duplex in East York, Toronto! This detached bungalow features 2+1 bedrooms, 2 bathrooms and has a footprint of 630sqft. The property sits on a 25ft x 146.66ft lot. While there is an attached 1 car garage the current owner converted it to an additional living space/den. This property consists of a 1 bed basement apartment, which is in very high demand on the resale market! The interior is well-maintained but could use some cosmetic updates, specifically to both kitchens, windows and flooring throughout. Luckily the bones of the property are in great shape, specifically the roof (2010), furnace (2013) and hot water tank (2013). This property is fantastic for all investors looking to get into a Toronto property at an entry level price, with tremendous upside for a Fix&Flip or even long term hold! CALL TODAY!

About the Neighbourhood 

The subject property is located in the East York area of Toronto, with the major intersection being Main Street and Danforth Ave. This area of Toronto (Crescent Town) is highly sought after due to its close proximity to Schools, parks and transit routes (Victoria Park TTC subway stop). It’s location and proximity to these amenities makes it extremely walkable which appeals to all modern first time homebuyers and families. Looking to quickly escape the city via car? The property is located minutes from the DVP which extends North eventually connecting to Highway 401 bringing you East out of Toronto or West further into the city!

Property Details

  • Detached Bungalow
  • 2+1 bedrooms
  • 2 bathrooms
    • 1 full upstairs
    • 1 full in basement unit
  • 630 sqft above grade
  • 630 sqft below grade
  • Built in 1948
  • Finished basement
    • Separate entrance from the side of the house
    • 6 ft 2in ceiling height
  • Garage
    • converted into additional living space/den
  • Furnace is owned, replaced in 2013
    • good condition as per seller
  • HWT is owned, replaced in 2013
  • No A/C
  • Roof replaced in 2010
    • good condition as per seller
  • Windows are dated
    • replaced in 2000 by previous owner as per current seller
  • Breaker Panel
    • Copper wiring
  • 25 ft x 146.66 ft lot
  • Property Tax around $3662
  • Zoning RD (click HERE for zoning bylaw)

Recommended Renovations

  • Cosmetic renovation
  • Consider adding A/C
  • Consider upgrading windows
  • Seller has the option to leave junk behind so we recommend budgeting for junk removal
Pictures and More

The Numbers

We are selling our assignable purchase contract for this excellent Fix & Flip or Buy & Hold opportunity.

  • Wholesale Price: $734,999
  • We believe that this property is worth $840,000 as-is on the MLS
  • We believe after a full renovation and depending on finishes, this property would sell for at least $980,000 on the MLS
  • Purchase today for $105K BELOW MARKET VALUE

Comparable Analysis

  • 263 Glebemount Ave sold for $865,000 in December 2024 after 9 days on the market! This 2 bed 1 bath bungalow currently sits on a 25ftx120ft lot, however is slightly larger than the subject property with a footprint of 700-1100 sqft. The property is marketed as a full renovation/potential teardown as it is in need of major renovations throughout. The basement is also full however semi finished (missing ceiling drywall and flooring). We believe after adjustments for size, the subject property would sell for a price around $840,000.
  • 186 Chisholm Avenue sold for $890,000 in December 2024 after 2 weeks on the market! This 2+1 bed, 2 bath property sits on a 25ft x 100ft lot and is between 0-700sqft similar to the subject property (listing states 1143 sqft in total including the basement as per GEO). This property has been very well maintained throughout the years but it is not considered a full ARV comparable. The comparable also has a bedroom in the basement, however different from the subject property it does not have a full apartment with a kitchen. Also, the property is limited with parking as it does not have a garage whereas the subject property does (can easily be converted back) Therefore we believe, in AS IS condition the subject property would sell for a price around $840,000.
  • 6 Newmarket Ave sold for $980,000 in November 2024 after 24 days on the market! This 1+1 bed, 2 bath property sits on a 25ft x 100ft lot and is approximately 0-700sqft (1038sqft as per listing for the entire property above and below grade). The comparable also has a detached garage that is accessible via a shared driveway. The comparable underwent a full renovation and would be considered an ARV comparable – top line finishes. The property has exterior siding rather than brick, and according to the listing had recent upgrades to the roof, windows and electrical panel. The property is very limited to a retail buyer as it only has 1 bed above grade, whereas the subject property has 2. After market adjustments and a full renovation (regular finishes) we believe the subject property would also sell for a price around $980,000 on the MLS.
Price:
$734,999
Address:
Toronto
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1948

Call 647-930-0291 for more details