Fort Erie Assigned

By August 3, 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: October 8, 2021

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

Parkview Avenue, Fort Erie, ON

Detached 2 Unit Cottage Style property located in Fort Erie, walking distance to Fort Erie beach. The subject property contains 2 units with a total of 5 bedrooms, 2.5 bathrooms, an attached garage and is approximately 2305 sqft. The property is situated near beaches, parks, Walmart, Sobeys, the Fort Erie race track and other amenities. This property has been fully gutted and offers an investor a blank canvas with huge upside potential. The subject property is suitable for an experienced investor who is looking for a fix & flip, a 2 unit rental property or a cottage style airbnb near the water.

Property Features

• Detached 2 storey
• 2,305 sqft above grade
• Attached 2 car garage
• Double Lot: 84 ft Frontage x 79 ft Depth (neighbours with similar lots have severed)
• Fuse panel
• Radiator heating
• Furnace less than 10 years old (owned)
• No A/C
• Roof and most windows need to be redone
• Built in 1923
• R3 Zoning
• Unit break down
  • Unit 1 – 4 bedroom, 1.5 bathroom, 1 kitchen
  • Unit 2 – 1 bedroom, 1 bathroom, 1 kitchen

Renovations Needed

• Full renovation: the property has been gutted almost completely down to the studs
• New roof and windows
• Potential to do exterior work – redo the siding, exterior doors, etc.
• Lots of building materials will be left on site – drywall, bathtub, etc.

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

• Wholesale Price: $399,999 or Best Offer
• We believe that this property is worth $450,000 as-is on the MLS
• We believe that after a full renovation this property should be worth at least $800,000 on the MLS after a full renovation.
• Purchase today for $50K BELOW MARKET VALUE

Comparable Analysis

• 76 Windsor Avenue sold in August 2021 for $435,100. It is a detached bungalow with 2 bedrooms, 1 bathroom, and approximately 800 sqft. The inside of the property is fairly well maintained but completely outdated. It sits on a 91 ft x 103 ft lot, has a single detached garage and an unfinished basement. In comparison the subject property is in worse condition but has more than double the above grade square footage, is a 2 unit property and has more bedrooms and bathrooms. We believe that the subject property would sell at a greater price than this comparable in its current condition on the MLS.
• 616 Lakeshore Road sold in May 2021 for $885,000. It is a detached 2 storey with 4 bedrooms, 2 bathrooms, and approximately 2,050 sqft. The inside and exterior have both been fully renovated, although with modest finishes. It sits on a 54 ft x 69 ft lot, has no garage and an unfinished basement. We believe that the subject property would sell close to this comparable on the MLS after a full interior and exterior renovation.