CHEAPEST Legal 2-Unit Property VACANT Possession in Highly Desirable North End St. Catherines Assigned

  • $690,000
Assigned

This is the only legal additional dwelling unit property in the area available for sale over the past year and it is priced cheaper than single families around the area. 

Calling all investors looking for their next BRRRR, fix-and-flip, or long-term buy-and-hold project- 10 Draper Drive is a perfect property for those looking to take on their next value add project with tremendous upside potential both in the short term and long term. This is one of the most sought-after areas in Niagara. The property is located nearby the waterfront with various trials and is extremely close walking distance to nearby schools and parks. Many single-family houses around this area sell for 700k+, with some going for over a million. Rarely if ever do legal 2 unit houses sell on the market in North St. Catherines. Moreover, with both units being above grade investors can command a premium on rent and this further makes this property a phenomenal long-term investment.

This property is ready for your renovations! The property is largely outdated, requiring cosmetic renovations throughout. However, per conversations with the city- the property is recognized as a two-unit dwelling with permits being pulled for legal conversion in the 1990s. Renovated properties with legal ADUs in this area appraise for over 840k+; however, these properties have an above-grade unit and a below-grade unit. This property should be more valuable as both units are above grade the main unit has full access to the finished basement. The main unit is a 3 bed above grade + 2-bed below-grade + 2 bath unit, with a finished basement. The rear unit is a 1 bed + 1 bath unit and is above grade.

With immediate upside on the purchase and endless potential with a large property and lot, this property will not be available long. Contact us today if you’re interested in placing an offer or learning more!

Comparable Sales:
Note all comparables are of single-family homes nearby the area- none have a legal additional dwelling unit and most comps are smaller than the subject property. The subject property is worth more than all the below comparables due to the legal additional unit above grade in addition to having a larger sqft.

3 Manor Rd – $850,000 (Sold Oct 2021)

  • Single-family home
  • Stucco siding
  • Fully renovate

10 Glenholme Rd – $823,000 (Sold Oct 2021)

  • Single-family home
  • Fully renovated basement
  • Requires renovations in the main level as the house is slightly dated

23 Brisbane Glen – $749,000 (Sold Nov 2021)

  • Single-family home
  • Finished basement
  • Decent condition interior- still requires cosmetic renovations throughout

587 Geneva St – $851,000 (Sold Nov 2021)

  • Vinyl/aluminum siding
  • Sold off-market
  • Larger lot : 72ftx300ft

39 Duncan Dr – $775,000 (Sold Apr 2021)

  • Brick exterior
  • 1100 sqft above grade
  • 3 bed above grade + 1 bed below grade
  • 2 bath
  • Renovated interior
  • Attached garage

 

Price:
$690,000
Address:
St. Catherines
Terms:
Assignment of Contract
Property Type:
Other

Call 647-933-5598 for more details