About the Property
Looking for your next flip? Look no further than SLGs latest deal!
This detached house situated in East London has loads of potential. The property consists of 3 bedrooms 1 bathroom and is a total of 800 sqft. This property requires a full cosmetic renovation in order to maximize the ARV. There is some mould in the back room which we believe is coming from a leak in the roof. There is also some water in the kitchen due to a faulty fridge. The porch out front needs some attention as it’s not sturdy. However, given the price point we believe that although there is quite a bit of work in this property the upside is vast! This property is perfect for an investor looking for a spring fix and flip or buy and hold. ACT NOW BEFORE IT’S GONE!
Property Details
- Detached House
- 3 bedrooms
- 1 bathroom
- 800 sqft
- No basement
- Built in 1890
- moderate renovation done in 1977 as per MPAC
- Appliances are included
- Fridge, Stove, Washer, Dryer in AS IS condition
- Roof and Windows are both old and need to be redone
- No A/C
- No garage
- Breaker panel, copper wiring
- Lot size 38ft by 71ft
- Furnace is owned and purchased in 1996
- HWT is owned and about 10 years old
- Property Taxes are about $1,344
- Lot size 38ft by 71ft
- Zoning is R2-2
Recommended Renovations
- Full cosmetic renovation
- Porch needs to be fixed
- Roof and Windows need to be redone
- Consider adding A/C
- The 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 BUY and HOLD opportunity.
- Wholesale Price: $189,999
- We believe that this property is worth $260,000 as-is on the MLS
- We believe after a full cosmetic renovation this property would sell for $375,00 on the MLS
- Purchase today for $70K BELOW MARKET VALUE
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