| Permfield Path, Etobicoke, Ontario
Offer Date: FIRST COME FIRST SERVE
Closing Date: August 31st, 2023
*Seller is open to an earlier closing*
** Realtors bring us a client and add your commission on top of the purchase price**
About the Property
Checkout this condo end unit townhouse consisting of 3 bedrooms 2 baths and a total of 1777sqft. There is a room off of the master bedroom that could be used as a den, there is no closet but there is a large window. There are no major repairs needed but we would recommend a full cosmetic renovation to maximize the ARV. The bathroom upstairs was redone about 10 years ago. There was a new fence put in the back and the backyard was recently landscaped. This property is perfect for an investor looking for a fall fix and flip or BRRR project.
About the Neighbourhood
This property is located near Centennial park in Toronto right off of Highway 427. The subject property is located only 20 minutes to downtown Toronto and is located North of the 401. There is easy access to a number of bus routes and subway stations. Union Station is located 25 minutes from the subject property which is Canadas largest central hub for transportation. There are trains that lead to a number of cities daily including, but not limited to; Niagara, Hamilton, London, Barrie, Ottawa, and Kingston. The subject property is surrounded by countless amenities such as grocery stores, gas stations, beer store, bakeries, and much more!
Property Details
- Condo Townhouse
- 3 bedrooms
- 2 bathrooms
- 1 full bathroom
- 1 half bathrom
- 1194 sqft above grade
- 583 sqft below grade
- Built in 1977
- Condo fees $434.24
- Includes building insurance, roof, water, common area maintenance and snow removal
- Appliances are included
- Fuse panel
- Partially finished basement
- Basement ceiling height if about 7ft
- Furnace and A/C are both rentals and 5 years old, will be bought out on closing
- HWT is a rental
- Roof redone in 2018
- Windows in good condition,
- Single car garage
- Property taxes are $2294
Recommended Renovations
- Full cosmetic renovation
- Bathroom upstairs may be salvageable
- 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: $699,999
- We believe that this property is worth $765,000 as-is on the MLS
- We believe that after a full cosmetic renovation this property should be worth at least $865,000 on the MLS.
- Purchase today for $65K BELOW MARKET VALUE
Comparable Analysis |
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- 55 Silver Shadow Path sold for $880,000 in June 2023! This comparable is a 3 bedrooms 2 bath and is slightly larger in size. Unlike the subject property this comparable is not an end unit and is also higher in maintenance fees ($610). The main floor has been updated but the upstairs and basement is completely dated. Therefore, we believe after adjustments, the property would sell for at least $765,000 on the MLS.
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- Unit 29 – 582 Renforth Drive sold for $899,000 27 days ago! This comparable is a 4 bedrooms 2 bath and is larger in size. Similar to the subject property this comparable is an end unit and has an attached garage. The condo fees for the comparable are $725/month. The comparable has had some renovations done but is dated in other parts of the home. Therefore, we believe after adjustments and a full renovation, the property would sell for at least $865,000 on the MLS.
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- 11-11 Permfield Path sold for $799,500 in July 2022. This comparable is the last unit sold in this complex and consists of 4 beds 2 bath. While it does have one more bedrorom than the subject property, it is not an end unit. The comparable has had some renovations done but is dated in other parts of the home. Prices are up 8% YoY in this neighbourhood meaning this would sell around $863,000 in todays market. Therefore, we believe after adjustments and a full renovation, the property would sell for at least $865,000 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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