Hamilton Assigned

By March 9, 2021
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $55,000 BELOW Market Value!

Closing Date: June 7th, 2021
The Seller may extend or move up the closing date one time for up to 28 days, provided they give the Buyer 30 days notice.

**Due to COVID-19 restrictions sight unseen offers are preferred.**

Upper James St and Fennel Ave E – Hamilton, ON

The subject property is a detached 1.5 storey located in the Centremount neighbourhood of Hamilton mountain. The property is situated on a quiet street, just minutes from downtown Hamilton, Mohawk college, parks, schools and plenty of amenities. This property has many recent updates and has been well maintained. The kitchen, one of the bathrooms and a lot of the flooring were all recently updated. The property has a separate entrance to a potential basement apartment. This property is suitable for a beginner or experienced investor looking to take on a quick fix and flip or acquire a rental in a prime area at a large discount.

Property Features

• Detached 1.5 storey
• 1346 sqft above grade
• 900 sqft basement
• 3+1 Bedrooms, 2.5 Bath
• Finished basement with separate entrance
• Lot: 38 ft Frontage x 104 ft Depth
• Breaker panel, copper wiring
• Roof and windows are in good shape
• Furnace is less than 5 years old (owned)
• A/C owned
• Zoning – C
• Built in 1947

Renovations Needed

• Update remainder of old hardwood (or sand and stain)
• Remove carpet in basement and on the stairs
• Replace basement ceiling tile or drywall ceiling
• Potential to add basement kitchenette

We are selling our assignable purchase contract for this excellent FIX & FLIP or Rental opportunity.

• Wholesale Price: $579,999 or Best Offer
• We believe that this property is worth $635,000 as-is on the MLS
• We believe that after a minor cosmetic renovation and adding a kitchenette in the basement, it should sell for approximately $670,000 on the MLS
• Purchase today for $55K BELOW MARKET VALUE

Comparable Analysis

• 29 East 6th Street sold in February 2021 for $637,000. It is a detached bungalow with 2+1 bedrooms and 2 baths. In comparison to the subject property, it has superior finishes overall and a basement kitchenette. However, the subject property has an additional bedroom, powder room, is a larger house and has a higher MPAC value. We believe that after making these adjustments, the subject property would sell for a similar price on the MLS in its current condition.
• 78 West 3rd Street sold in December 2020 for $691,500. It is a 4+2 bedroom detached 1.5 storey with similar square footage, although a larger lot and attached garage. It has similar finishes to the subject property, with a separate entrance and finished basement that includes a kitchenette.  We believe that after a minor cosmetic renovation, creating a basement in-law suite and adjusting for the additional bedrooms and garage, we believe the subject property would sell for approximately $670,000 on the MLS once completed.