Link House in Burlington! Assigned

  • $750000
  • 3 beds
  • 3 baths
Assigned

Link House in Burlington! 

Fix & Flip or Hold Opportunity!

$90K BELOW Market Value!

Manchester Drive

Manchester Drive, Burlington

Offer Date: FIRST COME FIRST SERVE
Closing Date: March 15th 2024

The Seller has the option to shorten closing to March 1, 2024 given notice is provided to the Buyer by February 14th 2024.

Buyer to make $30,000 deposit to Sellers Solicitor in addition to deposit to assignor.

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

About the Property

Looking for your next Fix & Flip in the city of Burlington? Look no further! This 2 storey link house has 3 beds, 3 bathrooms and is approximately 1534 sqft. The home is dated throughout and is in need of a complete cosmetic renovation. However, major expenses will be covered as the Hot Water Tank, AC, Furnace were all replaced in 2022, along with the roof a few years prior in 2016. Massive savings! The property is also a corner unit meaning it has a large side yard, which is not common for link homes in this area! ACT FAST this deal will not LAST!

About the Neighbourhood 

The subject property is situated in the Brant Hills neighbourhood of Burlington, on the north end. Brant Hills is considered one of the nicer neighbourhoods in Burlington, home to some of the best real estate in the city! Burlington is located a 45 minute drive south west of Toronto, along Lake Ontario. The property is located perfectly so commuters can get anywhere across the GTA as efficiently as possible. For example, Highway 403 is located 10 minutes away from the property, connecting it east to Toronto and South West to Hamilton! Looking for a faster option? Highway 407 is only 4 minutes away from the subject property, helping shorten your commute. Burlington GO is also located about 10 minutes from the subject property, with trans and bus lines connecting into Toronto and Hamilton! The subject property is also located perfectly with amenities such as grocery stores, schools and restaurants, all within a 5 minute drive.

Property Details

  • Link 2 storey house
  • Attached 1 car garage
  • 3 bedrooms
    • all above grade
  • 3 bathrooms
    • Powder room on main floor
    • 2 full bathroom upstairs
    • 1 full ensuite in master bedroom
  • 1534 sqft above grade
  • 808 sqft below grade
  • No separate entrance
  • Basement ceiling height about 8ft (buyer to verify)
    • Bulkhead ceiling height about 7ft5 (buyer to verify)
  • Fridge included in sale
  • Furnace/AC/HWT are all rentals
    • Furnace and AC will be bought out prior to closing as per the APS
    • All units are approximately 1 year old
  • Roof was replaced in 2016
    • shingles in good condition as per seller
    • Eaves look older, may need to be replaced
  • Electrical is fuse
    • copper wiring as per seller
  • Windows are original
    • Wood windows
  • Lot size is 33.21ft x 114.44ft
  • Property taxes are approximately $4118
  • Zoning is R4

Recommended Renovations

  • Full cosmetic renovation
  • Replace windows
  • Replace garage door
  • Update eavestrough
  • Seller has the option to leave junk behind so we recommend budgeting for junk removal
Pictures and More
The Numbers

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

  • Wholesale Price: $749,999
  • We believe that this property is worth $840,000  as-is on the MLS
  • We believe after a full renovation and depending on finishes, this property would sell for at least $1,050,000 on the MLS
  • Purchase today for $90K BELOW MARKET VALUE
Comparable Analysis
  • 2293 Middlesmoor Cres sold for $879,000 in November 2023 after 20 days on the market. This 3 bed 3 bath Link house is approximately 1100-1500 sqft and sits on a 30ft x 120ft lot. The comparable is dated throughout with some wood paneling still in the basement that has been painted over, along with carpet throughout areas of the main floor. While it is dated, the comparable is much better maintained and staged well for a buyer. Due to the difference in sqft, also adjusting for maintenance and condition, we believe our property is worth around $840,000 in AS IS condition on the MLS.
  • 2196 Pembroke Crt sold for $900,000 in November 2023, after 10 days on the market! This 3 bed, 2 bath, 1 car garage link house is approximately 1300 sqft as per the listing and sits on a 30ft x 126ft lot. The property has been very well maintained over the years as seen in the listing pictures. However, the property is dated specifically the flooring, kitchen and bathrooms, that a new owner will likely renovate. The comparable however is more livable than the subject property. Two major differences however are that the subject property includes an additional bathroom and has a larger footprint. Thus, we believe the subject property would sell for a price around $840,000 on the MLS in AS IS condition.
  • 2207 Pembroke Crt sold for $1,011,500 in November 2023 after 27 days on the market! This 2 storey linked home consists of 3+1 bedrooms, 4 bathrooms and 1 attached garage. The property sits on a irregular pie shaped 19ft x 110ft lot, however is smaller in size as it is 1100-1500sqft as per the MLS listing. The comparable property has been renovated throughout, specifically the main floor and basement. The upper floor is very well maintained but still has carpeting throughout. Also, the property fetched a premium due to the addition of a bathroom in the basement which would increase the ARV of the subject property as well. We believe after adjustments, the subject property would sell for a price around $1,050,000 once fully renovated.
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Need Financing?
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

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

 

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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Price:
$750000
Address:
Burlington, ON
Bedrooms:
3
Bathrooms:
3
Terms:
Assignment of Contract
Property Type:
Home

Call 647-930-0291 for more details