| Craven Rd, Toronto, ON
Offer Date: FIRST COME FIRST SERVE
Closing Date: January 31st 2024
The Seller has the option to occupy the property after closing date for a period up until April 1 2024 at no cost provided that the seller obtains a policy of tenant insurance in form and substance satisfactory to the purchaser. The vendor may exercise this option by written notice to the purchaser on closing date. If the vendor exercises such option then the purchasers solicitor shall hold back $70,000 due on the statement of adjustments and shall not be required to pay same to vendors lawyers unless and until the vendor vacates the premises. Each day the seller stays after April 1 2024, the seller owes the Buyer $500 from the hold back amount
** Realtors bring us a client and add your commission on top of the purchase price**
About the Property
Looking to start off 2024 with a bang? This is your opportunity. BUY A TOROTO PROPERTY NEAR MPAC VALUE! This 2 unit bungalow in Toronto consists of 2 bedrooms and 1 bathroom above grade, along with a 1 bed 1 bath apartment in the basement! This property has been neglected as cosmetically it needs a full renovation. The basement specifically is in rough shape with exposed plumbing in the walls and torn up laminate flooring. The seller also mentioned the area is common for having mice which they noted they have seen in the basement before. The property is in need of a new furnace as the heat has been turned off due to a leak from the furnace. This property would be perfect for an investor looking for a fix and flip, duplex opportunity to add to their portfolio or even a long term hold with the potential to rebuild! The opportunities are endless, BUY NOW near MPAC VALUE!
About the Neighbourhood
The subject property is located in the Greenwood – Coxwell area of Toronto, north of Dundas St E and South of Gerrard St E. The main intersection is Dundas St E and Craven Rd. Transportation wise, this property is perfect for any commuter! There are streetcar options all along Gerrard St E, as well as the Subway line which goes along Danforth. Coxwell station is approximately a 5 min drive from the subject property making it easy to commute to Downtown Toronto. With endless amenities locally, from pubs to theater’s, and even a 10 minute walk to Woodbine Park, this property is located perfectly in the core of Toronto!
Property Details
- Detached Bungalow
- 2 beds 1 bathroom above grade
- 1 bed 1 bath basement apartment
- 660 sqft above grade as per MPAC
- 696 sqft below grade as per MPAC
- Basement is finished
- terrible condition
- ceiling height approximately 7ft (buyer to verify)
- separate entrance from front of house. Main entrance to upstairs is from side of house
- Vacant Possession
- Built in 1926
- Fridge Stove Dishwasher in upper unit are included; all in AS IS condition
- Fridge Stove Washer Dryer in basement unit included; all in AS IS condition
- Breaker panel, copper wiring as per seller (buyer to verify)
- No A/C unit
- Furnace not working, needs to be replaced
- HWT rental, working condition as per seller
- Roof approximately 15-20 years old, good condition as per seller
- Windows replaced in 2010
- No driveway, street parking only
- Property taxes are approximately $4317
- 24.5ft x 73ft lot
- Zoning R (d0.6)
Recommended Renovations
- Full cosmetic renovation
- Replace furnace
- Block off upstairs and downstairs entrance to make into two private separate units
- Seller has the option to leave junk behind so we recommend budgeting for junk removal
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