| Ivordale Crescent, Toronto, Ontario
Offer Date: FIRST COME FIRST SERVE
Closing Date: June 23rd, 2023
*Tenants MUST be assumed by the buyer. Both tenants are not on a lease but are willing to sign one for the new buyer*
** Realtors bring us a client and add your commission on top of the purchase price**
About the Property
Checkout this fully tenanted property in Toronto consisting of two units. The main floor features 3 bedrooms 1 bathroom and is in need of a full renovation. This unit is a smokers unit and the tenant pays $1400 all inclusive. The basement is a 2 bedroom 1 bathroom and the tenant pays $1000 all inclusive. There is mould in the lower unit bathroom that needs to be fixed. This property is perfect for an investor looking to add a tenanted property in Toronto to their portfolio.
About the Neighbourhood
The subject property is situated in the Maryvale neighbourhood of Toronto. Located just minutes from the Don Valley Parkway and the 401. The property is about a 25 minute drive to downtown Toronto and is easy access to the bus routes. Costco is located right around the corner from the subject property. IKEA is a 10 minute drive and the Sunnybrook Hospital is less than 20 minutes away! The property is surrounded by countless amenities including, Starbucks, Tim Hortons, Canadian Tire, Superstore, LCBO, restaurants, and much more.
Property Details
- Detached House
- 5 bedrooms
- 3 beds in upper unit
- 2 beds in lower unit
- 2 bathrooms
- 981 sqft above grade
- 981 sqft below grade
- Basement Ceiling Height is 7″-7.5″ft
- Property taxes are about $3830
- Breaker panel, copper wiring (200amp)
- Built in 1954
- No A/C
- Boiler system for heat, needs to be replaced
- HWT is a rental
- Roof redone 2016, as per seller
- Windows are dated, seller unsure of age
- 47ft x 108ft
- RD Zoning
Recommended Renovations
- Full cosmetic renovation
- Cash for keys
- Fix the mould in the bathroom
- 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 FIX and FLIP opportunity.
- Wholesale Price: $914,999 or Best Offer
- We believe that this property is worth $1,000,000 as-is on the MLS
- We believe that after a full cosmetic renovation this property should be worth at least $1,300,000 on the MLS.
- Purchase today for $85K BELOW MARKET VALUE
Comparable Analysis |
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- 45 Lynvalley Crescent sold for $1,200,000 in May 2023. This comparable consists of 2+1 bedrooms 2 bathrooms but is slightly larger in size. The comparable comes with a detached garage and sits on a larger lot size. The property backs onto a railway and while it presents itself better than the comparable it is still dated. Therefore, after adjustments, we believe this property would sell for at least $1,000,000 “as-is” on the MLS.
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- 100 Cavehill Crescent sold for $1,138,000 in April 2023. This comparable consists of 3 bedrooms 2 bathrooms and is larger in size as the subject property. The comparable is dated throughout but presents itself better than the subject property and sits on a similar lot size.much smaller lot size. Therefore, after adjustments, and depending on finishes, we believe this property would sell for at least $1,000,000 “as-is” on the MLS.
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- 21 Rothwell road sold for $1,320,000 in May 2023. This comparable is a 3+2 bed 2 bath property and is bigger in size as per house sigma. The comparable sits on a larger lot size a It has been updated throughout with modest finishes. The comparable also has an apartment in the basement. Therefore, after adjustments and a full cosmetic renovation, we believe this property would sell for at least $1,300,000 on the MLS..
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| Need Financing? |
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| Looking for a construction cost estimate?
SLG Renovations will manage the construction of this project from start to finish. If you’re looking for an estimate please email info@slgrenovations.ca
View our past projects here |
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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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