Kitchener Assigned

By August 9, 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 1, 2021

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

Weber Street West, Kitchener, ON

Detached 2 storey located on a large lot in Kitchener. The subject property contains 3 beds, 1.5 baths and is approximately 1,400 sqft. It is located in the Mt Hope Huron Park neighbourhood of Kitchener and is situated near near schools, restaurants, shops and George Lippert Park. Furthermore, the subject property is zoned R-5 which is suitable for multiple uses including conversion to a duplex. The subject property is suitable for an experienced or beginner investor who is willing to take on a great fix & flip or BRRR opportunity.

Property Features

• Detached 2 storey
• 1,456 sqft first and second floor
• 764 sqft basement
• Separate entrance
• 44 ft Frontage x 150 ft Depth
• Breaker panel
• Furnace is 5 years old
• Roof is about 11 years old
• Half of the windows have been replaced
• Built in 1907
• R-5 Zoning (zoning by-law permits duplex for this property – buyer to verify)

Renovations Needed

• Full cosmetic renovation
• Possible conversion to legal duplex

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

• Wholesale Price: $559,999 or Best Offer
• We believe that this property is worth $610,000 as-is on the MLS
• We believe that after a full cosmetic renovation this property should be worth $750,000 as a single family and $800,000+ as a legal duplex on the MLS
• Purchase today for $50K BELOW MARKET VALUE

Comparable Analysis

• 241 Margaret ave sold 7 days ago for $625,000. It is a detached 2 storey with 3 beds, 2 baths and is approx. 1,300 sqft. It is on a main street, sits on a 40 ft x 120 ft lot and the inside is outdated. Furthermore the MPAC of this comparable is similar to the subject property. Therefore, we believe that the subject property would sell close to this comparable as-is on the MLS.
• 24 Delisle street sold in May 2021 for $755,000. It is a detached 2 storey with 3 beds, 2 baths and is approx. 1,000 sqft. It sits on a 38 ft x 104 ft lot and the inside looks like it was decently renovated a few years ago. Furthermore it has a similar MPAC to the subject property. The subject property has a better lot and more sqft however it is located on a main street. Adjusting for these differences we believe that if an investor upgrades the subject property with nicer finishes than this comparable they should be able to achieve an ARV of $750,000 on the MLS
• 79 Louisa street sold in May 2021 for $795,000. It is a legal duplex with 5 bedrooms and 2 bathrooms. It is approx. 1,600 sqft, sits on a 35 ft x 117 ft lot and the inside looks like it was renovated a few years ago. We believe that after converting the subject property into a legal duplex an investor should be able to sell around this comparable value on the MLS.