Freehold Townhouse in Burlington! Assigned

  • $779,999
  • 3 beds
  • 3 baths
Assigned
Stephenson Drive, Burlington, Ontario

Offer Date: FIRST COME FIRST SERVE
Closing Date: July 15th, 2024

*The Assignee agrees to pay a deposit of $20,000 by negotiable cheque to the Sellers lawyer, “Deposit Holder”, in addition to SLGs deposit*

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

About the Property

Looking for your next Summer SLG Flip?
Check out this freehold townhouse located in the heart of Burlington. This property consists of 3 bedrooms, 3 baths, and has a footprint of 1500 sqft. The property could benefit from a full cosmetic renovation and possibly some new windows. Luckily some demo work (floor removal) has commenced so the project is ready to go!  The unfinished basement is awaiting your finishing touches (all junk has been removed from the basement as per seller)! This property is ideal for an investor looking for their next summer fix and flip or an investor looking for a great rental in Burlington.

Property Details
  • Freehold 2 Storey Townhouse
  • 3 bedrooms
  • 3 bathrooms
    • 2 full bathrooms (one is an ensuite in the master bedroom)
    • 1 half bathroom (main floor)
  • 1500 sqft above grade
  • 740 sqft below grade
  • 1 car attached garage
  • Appliances are included in the sale
  • Basement is an unfinished living space
    • Ceiling Height is roughly 7-8ft
  • Roof was redone in 2023 as per seller
  • Windows are dated
  • Breaker panel, copper wiring
  • Furnace and A/C are rentals, about 5 years old
    • Will be bought out on closing 
  • HWT is a rental, seller unsure of age
  • Property taxes are approximately $4006
  • Lot size is 25ft x 111ft
  • RM5 zoning

Recommended Renovations

  • Consider redoing windows
  • Full cosmetic renovation
  • The seller has the option to leave junk behind so we would recommend budgeting for junk removal
Pictures and More
The Numbers

We are selling our assignable purchase contract for this excellent FIX and FLIP or rental opportunity.

  • Wholesale Price: $779,999
  • We believe that this property is worth $850,000 on the MLS
  • We believe that after the above renovation recommendations are completed, this property should be worth at least $1,000,000 on the MLS.
  • Purchase today for $70K BELOW MARKET VALUE

Comparable Analysis
  • 1331 Treeland St sold for $870,000 in December 2023. This comparable freehold townhouse is located on the same street and only 2+1 bedrooms and 3 bathrooms. While the comparable presents itself better than the subject property it could still benefit from some work. The comparable backs onto a hydro tower and the highway, decreasing the resale value. The comparable is smaller in size as the subject property and sits on a similar lot size. Unlike the subject property the comparable property has a finished basement. Therefore, after adjustments, we believe that the subject property would sell for a price around $850,000 on the MLS in AS IS condition.
  • 1161 Stephenson Drive sold for $950,000 in June 2023. This comparable freehold townhouse is located on the same street and only 2 bedrooms but 4 bathrooms. While the comparable presents itself better than the subject property it is still dated throughout. The comparable is roughly the same size as the subject property and sits on a similar lot size. Unlike the subject property the comparable property has a finished basement. Therefore, after adjustments, we believe that the subject property would sell for a price around $850,000 on the MLS in AS IS condition.
  • Unit B – 2116 Prospect St sold for $1,170,000 5 days ago. This comparable freehold townhouse is located 4 minutes away from the subject property and is a 3 bedrooms 4 bathrooms home. The comparable is completely renovated and is similar in size as the subject property. The comparable sits on a similar lot size as the subject property. Unlike the subject property the comparable property has a finished basement. Therefore, after a full renovation, we believe that the subject property would sell for a price around $1,000,000 on the MLS.
Price:
$779,999
Address:
Burlington
Bedrooms:
3
Bathrooms:
3
Terms:
Assignment of Contract
Property Type:
Townhouse

Call 647-930-0291 for more details