Hamilton Assigned

By September 28th, 2021
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $50,000 BELOW Market Value!
Closing Date: November 1, 2021

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

255 Mount Albion St, Hamilton, ON

2 Storey Condo Townhouse located in the Red Hill neighbourhood of Hamilton. The property is situated on a quiet street near parks, golf courses, schools, FreshCO, Canadian Tire and other amenities. The subject property contains 3 bedrooms, 2.5 bathrooms, and is approximately 1629 sqft. The roof and windows are in good condition and a brand new fence was installed in the backyard in 2020. The subject property is suitable for a beginner or experienced investor who is looking for a quick cosmetic Fix & Flip or Rental opportunity.

Property Features

• 2 storey Condo Townhouse
• 3 bedrooms
• 2.5 bathrooms
• 1629 sqft above grade
• 723 square foot basement
• Partially finished basement
• Breaker panel, copper wiring
• Furnace 8 years old
• Central A/C 8 years old
• Roof and Windows in good condition
• Built in 1989
• Cosmetically outdated
• $379/month in Condo Fees

Renovations Needed

• Full cosmetic renovation, finish basement
• Upstairs shower base has a crack that needs to be replaced

We are selling our assignable purchase contract for this excellent Fix & Flip or Rental opportunity.

• Wholesale Price: $549,999 or Best Offer
• We believe that this property is worth $600,000 as-is on the MLS
• We believe that after a full cosmetic renovation this property should be worth at least $700,000 on the MLS.
• Purchase today for $50K BELOW MARKET VALUE

Comparable Analysis

• 24-255 Mt Albion St sold in September 2021 for $599,900. It is a 2 Storey Condo Townhouse in the same complex as the subject property, with 3 bedrooms, 2.5 bathrooms, and approximately 1600 sqft. The inside of the property is outdated and requires a cosmetic renovation. In comparison to the subject property, it is similarly outdated but better maintained. However, the subject property has hardwood flooring throughout the house, rather than carpet. We believe that the subject property would sell at a similar price to this comparable in its current condition on the MLS.
• 11-255 Mt Albion St sold in July 2021, for $650,000. It is a 2 Storey Condo Townhouse in the same complex as the subject property, with 3 bedrooms, 3.5 bathrooms and approximately 1600sqft. The inside of the property is outdated and requires small cosmetic renovations. In comparison to the subject property it is similarly outdated but better maintained. Also, the comparable property has a finished basement with an additional bathroom. However, the subject property has hardwood flooring throughout the house, rather than carpeting. We believe after cleanup, a paint job and refinishing the basement, the subject property would sell at a price close to the comparable on the MLS.
• 1-174 Highbury Dr sold in September 2021, for $730,000. It is a 2 Storey Condo Townhouse in a different complex, but has a similar square footage and MPAC value to the subject property. It is fully renovated (carpet upstairs), with a finished basement, and has 3 bedrooms and 1.5 bathrooms. In comparison to the subject property, it has 1 less bathroom, but is a corner unit. After making these adjustments, we believe that the subject property would sell for a price close to this comparable on the MLS after a full cosmetic renovation.