BRRRR Handyman Special! Vacant Cash-Flowing Property Ready For Your Renovations in Kirkland Lake: 40 McKelvie Ave, Kirkland Lake
✅ Wholesale Price: $110,000 (Or Best Offer)
✅ Estimated As-Is Value: ~$175K
✅ Estimated After Repair Value: ~$300K+
Closing: November 30, 2023
Offer Deadline: First come, First Serve
Why This Property?
▪️This your chance to buy a property, formerly a duplex, in one of the strongest cash flowing markets in Ontario and complete the renovations
▪️The property already has permits and is mid renovations – the seller is converting the duplex to a legal single family home. Everything is brand new – thus minimizing future capital calls, and maximizing rental yield and value of the property
▪️This is a great BRRRR or flip project for real estate investors
▪️Seller is willing to leave materials on site including insulation, steel sheets, along with existing cupboards, flooring
▪️Comparables show that single family homes are sold for above 200k+ with some single families selling above 300k within 500 meter radius of the property. Note there are few listings in Kirkland Lake with truly fully renovated properties top to bottom, thus allowing this property to potentially carry a larger premium
▪️Multiple exit strategies – flip or BRRRR and hold as a profitable investment
Comparables:
▪️55 McKelvie Ave -$370,000 (Closed Oct 2023)
Triplex
Likely not renovated or not maximum NOI
▪️57 Mccamus Ave – $340,000 (Closed Jun 2023)
Single family home
▪️46 McKelvie Ave – $205,000 (Closed Jun 2023)
Single family home
▪️60 McCamus Ave – $230,000 (Closed Mar 2023)
Single family home
✨For full information, videos, and photos check out the link below:
https://mailchi.mp/ontariopropertydeals/kirkland-lake
✨Call or email Austin for any questions:
📱 647-955-0843
📧 austin@ontariopropertydeals.ca