Flip Potential in Guelph Assigned

  • $900,000
  • 4 beds
  • 2 baths
Assigned

 

Summary: 
Take advantage of this amazing undervalued property in one of the most desirable and affluent neighbourhoods in Guelph. Situated in an area among many million-dollar homes in addition to a huge shortage of supply in this area, continued re-development of older homes, and close proximity to Downtown Guelph, this property perfectly fits the model for a fix-and-flipper and real estate developer. The property is centrally located and is a 7 minute bus ride to the Guelph General Hospital, 7 minute walk to St-George Park, and less than a 10 minute walk to Downtown Guelph where all the trendy restaurants, cafes, and pubs are located. There are many developers purchasing properties in this pocket of Guelph for lot value with plans to re-build in the future and this area is prime for future development potential.This property is in good condition and requires some cosmetic renovations to modernize the interior aesthetic. Comparable properties around this area regularly trade for +1mil and re-development properties sell for above 1.6+mil. Notable features in the features include: vintage features throughout, yellow brick bank exterior, 10ft ceiling, and walk out level with 9ft ceilings this property.Previously houses in this area received historic designation; however, after a long battle with the city, the city has approved re-development in this area. In addition, the property is zoned for R.1B which permitted uses includes an accessory apartment, which provides the owner with added potential.

The suburban detached market in the Guelph is hot. Get your hands on a detached property with great flipping and long-term upside potential today!

 

Property Features:

  • Frontage: 50ft x 192ft depth
  • Approx. 1500 sqft
  • 4 bedrooms + 2 bathrooms
  • Beautiful brick exterior
  • Zoned for R.1B
    • Permitted use includes Accessory Apartment: A maximum of two Additional Residential Dwelling Units shall be permitted on a Lot, one within the same Building as the primary Dwelling Unit and one located in a separate Building on the same Lot
  • Location near Downtown Guelph and in one of the most affluent areas of Guelph
  • Interlocking driveway
  • Forced air, gas
  • Updated electricial
  • Interior in good condition- some cosmetic updates required

Potential Property Upgrades

  • Renovate kitchen
  • Renovate 1 of the bathrooms (other bathroom newly renovated)
  • Paint throughout
  • Newer light Fixture
  • Remove popcorn ceiling
  • Small aesthetic touch ups here and there

Comparables

Very few grand houses sell in this area and those that sell typically need some interior updating. These are comparable sales around the area over the last 180 days organized from closest to subject property, to furthest.

72 Queen Street – $1,400,100

  • 1 minute walk from subject property, sold in 4 days
  • Approx. 2515 sqft living space
  • Stucco exterior
  • 4 bedroom + 3 bathrooms
  • Electric Baseboard heating with some forced air
  • 8/10 condition interior (Renovated main areas, outdated bathroom, bedroom)
  • 104 frontage, large depth

26 Stuart Street – $1,649,900

  • 3 minute walk from subject property
  • Grand property, very large and beautiful landscape
  • 134ft frontage
  • Approx. 4407 sqft living space
  • 2 garage and 4 parking spaces
  • 3 bedrooms + 3 bathrooms
  • Good condition interior- very large house and lot size

50 King Street – $1,399,900

  • 4 minute walk from subject property, conditionally sold
  • 19.08ft frontage, 120ft depth
  • 2 bedrooms + 2 bathrooms
  • Approx. 1960sqft living space
  • Newly renovated from top to bottom 10/10 condition
  • In-law suite capability

51 Lemon Street – $1,000,000

  • 5 minute walk from subject property, sold in 6 days
  • 66ft frontage, 86.4ft depth
  • Approx. 2440sqft living space
  • 4 bedrooms + 3 bathrooms
  • Good condition interior- slightly outdated layouts (Closed concept), older kitchen

 

If you’re interested, please call/text:
Austin at 647-933-5598 or email at austin@ontariopropertydeals.ca

 

Price:
$900,000
Address:
Guelph
Bedrooms:
4
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home

Call 647-933-5598 for more details