Etobicoke Assigned

By July 31, 2020
Realtors bring your clients, just add your commission to the purchase price!

Purchase this Property Today for $60,000 BELOW Market Value!
Closing Date: September 28, 2020

Treeview Drive, Evans Ave & Brown’s Line

Detached bungalow sitting on a 40 ft x 139 ft lot in the prime Alderwood area of Toronto where average home prices have increased by just under 10% over the last year. The subject property is conveniently located beside the Long Branch Go Station, the Gardiner Expressway, 427, and the Sherway Gardens Shopping Mall. This property is perfect for a flipper or an experienced builder who’s looking to develop in a rapidly gentrifying area!

Property Features

• Bungalow
• 1015 sqft above grade
• 644 sqft basement
• 3 Bedrooms, 2 Baths
• Separate entrance goes directly into the basement
• Built in 1952
• Lot Size: 40 ft Frontage x 139 ft Depth
• Detached garage/shed
• RM (u3*18) zoning
• Furnace is owned and over 15 years old
• Hot water tank is a rental and about 15 years old
• 100 amp breaker electrical panel
• Roof likely needs to be replaced soon
• Main floor windows are new, basement windows are outdated

Renovations Needed

• We recommend an investor either renovate the property top to bottom and turn the basement into a rental apartment or tear down the existing house and build a brand new custom home. There are dozens of new custom homes on this street and within the immediate area

We are selling our assignable purchase contract for this excellent FIX & FLIP, BRRR Or NEW BUILD opportunity.

• Wholesale Price: $879,000 or Best Offer
• We believe that this property is worth $940,000 as-is on the MLS
• We believe that after a substantial renovation and the addtition of a basement apartment this property should sell for approx. $1.2 million on the MLS
• Alternatively, an experienced builder can develop a brand new custom home on this lot which should sell for approx. $2 million on the MLS
• Purchase today for $60K BELOW MARKET VALUE

Comparable Analysis

• 286 Thirtieth Street sold for $939,000 18 days ago. Similar to our property, this comparable is very outdated inside, sits on a 40 ft x 143 ft lot, has the same bedrooms and bathrooms and has the same square footage. We believe the as-is value of our property to be almost identical to this comparable
• 105 North Carson Street sold for $1,185,000 3 days ago. This comparable is fully renovated from top to bottom. It sits on a 40 ft x 125 ft lot, and has the same amount of bedrooms, bathrooms and square footage as our property. We believe an investor could sell for at least this value on the MLS after a full renovation. Adding a basement apartment should even push the after repair value higher than this comparable
• 211 Gamma Street sold for $1,967,888 27 days ago. This comparable sits on a 41 ft x 132 ft lot and is a brand new custom build. The comparable features approx 2700 sqft, 4+1 bedrooms, 5 bathrooms and 1 attached garage