✅ Wholesale Price: $595K (Or Best Offer)
✅ Estimated As-Is Value: ~$720K
✅ Estimated After Repair Value: ~$950K+
ARV as Two Semis: ~550k each semi detached house (1.1mil)
Offer Deadline: January 25, 2023
Closing: February 28, 2023
Why This Property?
– Flip, Convert this property back into two Semi-Detached homes or BRRRR for profits! This property was formerly two semi-detached properties converted into a single family home per the seller (See documents in drive). Zoned as RD2 this property can be easily converted to a duplex or two semis as zoning allows (buyer to confirm). Investors can either flip or BRRRR this property as a result, or simply just sell this property as a single family home flip due to the massive ~4100sqft finished living space of the property
– Currently the owner has it separated into 2 units (non-conforming)- upper unit and main unit. The upper unit is rented at $2,500 month to longer term tenant but will be vacant upon possession
– According to MPAC the above grade sqft for this property is 2790 and basement sqft is 1311 – totalling over 4000sqft of living space. This makes the subject property drastically larger than any other sold property or any other property actively listed on the MLS
– Neighbouring properties even in today’s market sell for well over 600k+ and are drastically smaller with much less potential. 97 Lyndale sold for 699k in January 2023 and is only a 4 minute walk away. The property is less than 2400sqft in finished living space (including the basement) and still requires light cosmetic renovations throughout. Moreover, there is no in-law suite in the property too, and the property possesses must less overall potential for upside.
– Buy the property for over 100k below today’s market value! This is a massive hedge against current market climate – even if prices correct, there is still a large spread and multiple exit strategies available to investors
✨Comparables:
97 Lyndale Crescent, Woodstock- $699,000 (Sold January 2023)
300 Briarhill Rd- $1,052,500 (Sold September 2022)
961 Nellis Street- $750,000 (Sold August 2022)
SEMI-DETACHED COMP: 1014B Nesbitt Cres – $545,900 (Sold July 2022)
✨For full information, videos, and photos check out the link below:
https://mailchi.mp/ontariopropertydeals/1000-block-warwick-st-woodstock
✨Call or email Austin for any questions:
📱 647-955-0843
📧 austin@ontariopropertydeals.ca