120k Undervalued Massive >6,000sqft House, Vacant Possession with 500k+ Spread Assigned

  • $780000
Assigned

This is your opportunity to purchase this massively discounted property with over 4 acres of land and over 6,000sqft of interior living space, with over $100,000 in instant equity with this fire sale. Located in rural Hawkestone, however within 5 minute driving distance to Barrie Regional Airport, local beaches and waterfront and parks on Lake Simcoe and only a 10 minute drive to Barrie. Nearby comparable properties sell for over 1million, with properties 3 years ago still selling above our marketed price and vacant farmland selling for over our marketed price as well. If you’re a flipper looking for your next home run deal, look no further than 160 Line 9 S! This property won’t be available long- make sure to reach out soon!

Summary:
This is a rare opportunity to purchase a property well over 100k under market value with tremendous upside potential after renovations.

Calling all investors, flippers, and contractors, 160 Line 9 S in Hawkstone is an extremely rare opportunity to purchase a massive >6,000 sqft brick house on a 4.9 acre lot, ready for your cosmetic finishes. The house is in decent aesthetic shape, and requires some lipstick renovations throughout to bring it to it’s highest and best value of an estimated 1.3mil ARV. The septic tank is in good working condition, passing the township inspection last year, the furnace is only 15 years old and is owned, the electrical and plumbing are fully updated. In addition, there is a 2 car garage and large barn which can be used as a workshop or additional storage. Moreover, there are 4 residential units in the house for additional income. The property is recognized by the city as a legal group home (buyer to confirm with City; we received verbal confirmation from the city); however can also be used as a single family home without any rezoning or application. The property will be vacant upon possession ready for your immediate renovations. This property is overall in good condition.

This property is located close by Barrie as well as within a 5 minute drive to nearby beaches and townships on the Lake Simcoe waterfront. Thus there is an active market of buyers looking for properties nearby the city and beaches/waterfront, however in an extremely large rural lot. Comparable properties regularly trade over a million dollars with vacant farmland trading at higher prices than the subject property, and even sales data from 3 year ago still selling higher than the asking price for this property.

With immediate 100k+ upside on the purchase, vacant possession, close proximity to Barrie and the waterfront, this property presents a phenomenal homerun opportunity for your next investment!

Property Features:

  • Large Lot Size: 211,984sqft – almost 4.9 acres
  • Tax assessed value: $693,000
  • Legal Group Home with 4 units or can be used as single family home
  • Single family home & legal group house (buyer to confirm with city)
  • Built in 1978 (Per MPAC)
  • Total interior sqft: 6,613 sqft
    • Above grade sqft 2,938
    • Below grade sqft 3,675
  • Roof requires repairs (30 years old)
  • Zoning Code: A (per MPAC)
  • 3 garage spaces attached (per MPAC)
    • 721 sqft
  • Brick exterior
  • House is on propane tank, septic tank, and well water
  • Main Unit:
    • 4 bed + 2 bath
    • 1 kitchen
    • Large balcony access
  • Granny Suite (Main Floor):
    • 1 bed + 1 bath
    • 1 kitchen
    • Separate balcony access
  • Basement Unit 1:
    • 1 bed + 1 bath
    • 1 kitchen
  • Basement Unit 2:
    • 1 bed + 1 bath
    • 1 kitchen
  • Unfinished basement space:
    • Potential for another 2-3 bedrooms
  • Hot water tank owned
  • PVC/Copper plumbing
  • Electrical copper
  • 1 Hot water tank owned and 1 hot water tank rented
  • Furnace 15 years old and owned
  • Propane tank rental ~$100 per year
  • Septic tank passed township inspection last year (per Owner)Click Here for Photos & MPAC

 

Price:
$780000
Address:
Hawkestone
Terms:
Assignment of Contract
Property Type:
Home

Additional Features

Legal Group Home with 4 units or can be used as single family home

Call 647-933-5598 for more details

Property Location