Detached Bungalow with a Separate Unit in the Basement in Whitby! Assigned

  • $669,999
  • 4 beds
  • 2 baths
  • 1944 sqft
Assigned

Detached Bungalow with a Separate Unit in the Basement in Whitby!

Cheapest available detached in Whitby! 

Fix & Flip or Rental Opportunity

$80K BELOW Market Value!

Willis Avenue

Willis Avenue, Whitby, Ontario

Offer Date: FIRST COME FIRST SERVE
Closing Date: February 17th, 2023

About the Property

Check out this detached bungalow in Whitby! This house is in need of a full cosmetic renovation to bring it back to its glory but has loads of potential! The property consists of 3 bedrooms 1 bathroom on the main floor and a 1 bedroom, 1 bathroom apartment in the basement with a separate entrance. This is a smokers house with wall paper walls and carpet throughout the home. The property is about 984 sqft and sits on a good lot size. The roof was redone in 2021, saving an investor on a costly job! This property is perfect for a beginner or experienced investor looking for a fix and flip or BRRR to add to their portfolio.

About the Neighbourhood 

The subject property is situated in a desirable neighbourhood of Whitby close to many walking trails! Whitby is located East of Toronto and is close to other major cities such as Oshawa, Ajax, and Bowmanville. The subject property is less than a 15 minute drive to the nearest beach and close to many Conservation Areas. Whitby is located just North of the 401 and South of the 407. The property is about an 1.5 hour from the GTA. The property is close to many amenities such as: Tim Hortons, No Frills, LCBO, Walmart, Canadian Tire, Starbucks, Restaurants and many more.

Property Details

  • Detached Bungalow
  • 3 bedrooms on the main level + 1 bedroom in the basement
  • 2 full bathrooms
  • Kitchen in basement
  • Separate entrance
  • 984 sqft above grade
  • 960 sqft below grade
  • Windows are vinyl but dated
  • Roof was redone in 2021
  • Electric Heating
  • Smokers House
  • No A/C
  • HWT is owned and is 8 years old
  • Poured Concrete Foundation
  • Breaker panel – Copper wiring
  • Property taxes are about $3356
  • Lot size is 119ft by 53ft
  • Built in 1983
  • Zoning: R2

Recommended Renovations

  • Full cosmetic renovation
  • Replace the planks on the deck
  • Convert into a legal duplex
  • 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 and FLIP opportunity or Rental Opportunity.

  • Wholesale Price: $669,999
  • We believe that this property is worth $750,000 “as-is” on the MLS
  • We believe that after a full renovation this property should be worth at least $800,000
  • We believe that after converting into a legal duplex and doing a full renovation this property should be worth at least $850,000
  • Buy now for 80K BELOW market value!

Comparable Analysis

  • 908 Centre Street North sold for $775,000 in October 2022. This comparable is larger than the subject property but sits on a smaller lot size. The comparable consists of 3 bedrooms 2 bathrooms but no kitchen in the basement. The comparable has a garage but a narrower driveway. After making some adjustments, we believe the subject property would sell for around $750,000, in “as is” condition.
  • 1015 Wardman Crescent sold for $790,000 in December 2022. The comparable property consists of 3+1 beds 2 baths and is larger in size than the subject property. The comparable sits on a smaller lot size and is on a pie shaped lot which is less superior than the subject property. The comparable does have a detached 2-car garage/workshop with hydro and also provides more parking spots than the subject property. The comparable is dated throughout and has no kitchen in the basement. After making some adjustments, we believe the subject property would sell for around $750,000, in “as is” condition.
  • 317 Rossland Road West sold for $789,900 in December 2022. This comparable consists of 3+1 beds and 2 baths and is larger in size than the subject property. The comparable sits on a smaller lot size and has a detached garage. The comparable has been nicely renovated throughout but does not have a basement apartment nor does it have a separate entrance. Therefore, after renovations, and assuming you convert into a legal duplex, we believe the subject property would sell for a price around $850,000.
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Need Financing?
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

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

 

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.
Price:
$669,999
Address:
Whitby, ON
Square Feet:
1944
Bedrooms:
4
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1983

Call 647-930-0291 for more details