| Pleasant Boulevard, Keswick, Ontario
Offer Date: FIRST COME FIRST SERVE
Closing Date: February 28, 2023
About the Property
Check out this quaint detached bungalow in Keswick, consisting of 2 bedrooms and 1 bathroom. This house is approximately 894 sqft and is located just a short walk from Lake Simcoe. There is a sunroom inside the property that the seller was in the process of converting to a 3rd bedroom. It is important to note that this property is a smoker’s house and quite dated throughout, therefore we are recommending a full cosmetic renovation to bring it to its full potential! There is a large shed on the property that does have its own breaker panel, as well as a large steel shed that was previously used as a garage. This property is perfect for a beginner or experienced investor looking for a quick fix and flip or adding a potential rental to their portfolio.
About the Neighbourhood
The subject property is situated in the pleasant community of Keswick, which is located in the Town of Georgina. Enjoy the tranquility and peacefulness this town has to offer while still being only an hour away from the big city, Toronto. Keswick is located on the East side of Cook’s Bay, which is part of Lake Simcoe. The community of Keswick has all its basic amenities such as grocery stores, gas stations, and restaurants. Keswick is situated about an hour north-east of Toronto and only 20 minutes north of Newmarket. The subject property is situated near trails and beaches making it an ideal spot for a cottage rental or an end user looking to move into a more rural area.
Property Details
- Detached bungalow
- 2 bedrooms
- There is a sunroom that the seller was in the middle of converting to a 3rd bedroom
- 1 bathroom
- 894 sqft above grade
- Crawl space basement
- Large shed with its own breaker panel
- Large steel shed with its own driveway (previously used as a garage but fenced in now)
- Windows are in good condition, seller is unsure of age
- Roof was redone in 2019
- Furnace is owned and over 13 years old, seller is unsure of age
- HWT is a rental and was replaced 2 years ago
- Break panel, copper wiring
- No A/C
- Property taxes are about $2937
- Lot size: 54 ft by 135 ft
- Built in 1947
- Zoning: R1
Recommended Renovations
- Finish the drywall and flooring in the sunroom to convert to a 3rd bedroom
- Re-do the ceiling in the bathroom
- Cosmetic Renovation (Majority of the current floors are in good condition and can be salvaged)
- 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: $449,999
- We believe that this property is worth $525,000 “as-is” on the MLS
- We believe that after a cosmetic renovation this property should be worth at least $610,000
- Buy now for 75K BELOW market value!
Comparable Analysis |
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- 202 Way’s Bay Drive sold for $535,000 just 2 days ago. This detached bungalow consists of 2 bedrooms, 1 bathroom, sits on a similar size lot and is about the same size in sq ft. Cosmetically the comparable property is dated, specifically the kitchen. The flooring does seem to be well maintained, which is similar to the subject property. After making some adjustments, we believe the subject property would sell for around $525,000, in “as is” condition.
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- 259 Royal Road sold for $650,000 just 1 day ago. The comparable property consists of 2+1 bedrooms, 1 bathroom, and is similar in sq ft. Similar to the comparable, the subject property will have a 3rd bedroom once the sunroom is converted. The comparable property sits on a 50ft x 187ft lot, which does have the same frontage as the subject property, but the comparable lot does extend deeper. Similar to the subject property, the comparable does not have a garage, but does have a shed. The comparable has many cosmetic updates throughout but has not undergone a recent kitchen and bathroom reno. After adjustments, and after a full cosmetic renovation, we believe that the subject property would sell for a price around $610,000.
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- 213 Pleasant Boulevard sold for $624,000 at the end of December 2023. This detached bungalow consists of 2 bedrooms, 1 bathroom and is about the same size in sq ft. Both properties are on the same street and also sit on the same 50ft x 135ft size lot. The subject property does have a sunroom that can be completed as a 3rd bedroom. The comparable does have a detached garage, while the subject property has 2 sheds. The comparable has undergone a full cosmetic renovation throughout. Therefore, we believe after a full cosmetic renovation, the subject property would sell for a price around $610,000.
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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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| 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
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| 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. |
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