Looking to purchase your next BRRRR or buy and hold cash-flow opportunity for an affordable price? Look no further than 73 Victoria St E in the small and peaceful township of Alexandria. Within walking distance are many retail stores such as Shopper’s Drug Mart, local food markets and large grocery chains, many fast food restaurants and local restaurants, public schools, large retail chains and much more. Moreover, this town is close by to Ottawa, only an hour driving distance away. Best of all, this detached property in decent liveable condition is undervalued and available for purchase for only 120k!
Summary:
This is the cheapest property sold the past 6 months for a detached property for properties within a 5 minute walking distance to this subject property.
Take advantage of this undervalued property in Alexandria, only an hour commute from Ottawa, 40 minute drive from Cornwall and 1hr15min drive to Montreal. This property is ready for your finishes and would be a great entry level price point for BRRRR and cash flow investors. Located in a small, but closely knit township and within 5 minute walking distance to many amenities including a 5 minute walk to two schools, Alexandria Island Park , the waterfront, and stores/restaurants such as LCBO, Canadian Tire, Pizza Hut etc. This city is poised for long-term appreciation as prices continue to shoot up in the surrounding major city hubs of Ottawa and Montreal.
This property is ready for your lipstick cosmetic finishes and is vacant upon possession. This allows investors to immediately finish lipstick renovations and rent the property out to generate immediate cashflow. With such an affordable price point, the capital required for this project is low and a great option for new investors to break into the investing world with their first BRRRR.
This property will be one of the most affordable entry level prices in Ontario with great long-term upside potential, but this opportunity won’t last for long! This is you chance to break into the real estate market with a highly profitable investment and with no bidding wars!
Property Features:
- Single family home
- Lot size: 50ftx110ft
- Year built 1905 (per MPAC)
- Sqft above grade 920sqft (per MPAC)
- Zoning: R1 (per MPAC)
- Swimming Pool in backyard
- 2 bed (potential for 3rd) + 1 bath
- Metal roof – 12 years (per owner)
- Electrical fuse box – copper wiring
- Plumbing – PVC & galvanized
- Beautiful crown moulding throughout living room
- Stone foundation
- Basement height ~ approx. 5’5ft
- Detached shed in backyard – poor condition
- Shed 250sqft (per MPAC)
- Sump pump in basement
- Notable moisture in basement- poor exterior water management system (gutters, downsprouts, exterior landscaping slope etc.). Recommended further due diligence