Detached House in Hamilton! Assigned

Offer Date: FIRST COME FIRST SERVE
Closing Date: December 21st 2023 

** Realtors bring us a client and add your commission on top of the purchase price**

About the Property

This detached 1.5 storey consists of 3 bedrooms, 1 bathroom, and has a footprint of 891 sqft. The seller was in the early stages of a renovation so the property is partially gutted and ready for a full cosmetic renovation throughout. The AC, furnace, HWT, windows, and wiring have already been updated saving the buyer a costly job. The electrical is on fuse and would ideally need to be updated to breaker. The property sits on a 25 ft x 120 ft lot and has a detached 1 car garage. This property is perfect for an investor looking to start the new year off with a great flip!

About the Neighbourhood 

The subject property is situated in the Inch Park neighborhood of Hamilton. Hamilton is located west of the GTA. The subject property is located east of the Lincoln M. Alexander Pkwy and Upper Wentworth St intersection. The property is surrounded by countless amenities such as restaurants, hospitals, Shoppers Drug Mart, Value Village, Tim Hortons, and many more! The subject property is a 5-minute drive from the Hamilton GO Centre providing easy transportation for commuters. There are multiple bus stops within walking distance of the subject property. Red Hill Pwky is a 6 minute drive away providing easy access both towards the GTA and the Niagara region.

Property Details

• Detached 1.5 storey House
• 891 sqft above grade
  • 716 sqft below grade
• Basement is unfinished
  • 5 ft ceiling height
• Built in 1920
• Fridge, stove, washer, and dryer are included
• Fuse panel, copper wiring
• AC is owned
  • Brand new (needs to be installed)
• Furnace is owned
  • 3 years old
• HWT is owned
  • 1 year old
• Roof was redone in 2008
• Windows redone in 2014
• 1 car detached garage
• Property taxes are approximately $2946
• 25 ft x 120 ft lot
• Zoning R1

Recommended Renovations

• Complete cosmetic renovation
• Update roof
• Replace fuse panel with breaker panel
• Seller has the option to leave junk behind so we recommend budgeting for junk removal

The Numbers

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

• Wholesale Price: $374,999
• We believe that this property is worth $430,000 as-is on the MLS
• We believe after a cosmetic update the subject property would sell for at least $560,000 on the MLS
• Purchase today for $55K BELOW MARKET VALUE