BRRRR City! VACANT Oshawa Semi with Former In Law Suite and >100K Instant Equity! 507 Block Grenfell St, Oshawa, ON
✅ Wholesale Price: $485 (Or Best Offer)
✅ Estimated As-Is Value: ~$620K+
✅ Estimated After Repair Value: ~$720K+
✨Offer Deadline: Nov. 23 2022
✨Closing: Mar. 1, 2023*
*may be able to move up closing to Feb 1, tenants will need min 60 days notice to vacate
Why This Property?
- Flip or BRRRR for profits! This house is being offered at almost 200K below all recent comps, even in a down market this is a significant discount. Factor in the fact that not all comparables have an in-law suite like the subject property, and this makes 507 Grenfell an absolute steal!
- Large spread on ARV – a recent comparable with high-end renovations sold for 745K in Oct!
- Side entrance + already plumbed-in kitchen in the basement. The basement used to be a bachelor in-law suite however, the tenant moved in the washer/dryer to the basement where the kitchen used to be. Easy conversion back to an in-law suite by simply adding back a fridge and stove
- The exterior of this solid 70s build is in great shape, only cosmetic renovations required to maximize your return
- Long close + Vacant possession gives you plenty of time to line up lending or find a JV partner, and you’ll be flipping or refinancing in the spring when markets are traditionally warmer
✨Comparables:
🏷592 Dorchester Dr – $745,000 (Sold October, 2022)
🏷492 Salisbury St – $650,000 (Sold August, 2022)
🏷499 Grenfell St – $706,000 (Sold April, 2022)
✨For full financial information, videos, and photos check out the link below:
https://mailchi.mp/ontariopropertydeals/500-block-grenfell-st-oshawa-on