Rare Deal Alert! 8plex in Top-Rated and Trendy Walkerville Area of Windsor. 200K+ Below Comps!: 655 Chilver Rd, Windsor
✅ Wholesale Price: $994,999K (Or Best Offer)
✅ Estimated As-Is Value: ~$1.150M
✅ Estimated After Repair Value: ~$1.7M
✨Closing: May 31st, 2022
Take advantage of this deal to purchase an undervalued multi-family property with NO bidding wars in the best neighborhood of one of the strongest cash flowing real estate markets in Canada. This is a rare chance to purchase a multi-family property in the Walkerville neighbourhood of Windsor. Walkerville is lauded for its ‘trendy and hip’ blend of arts, culture, fine dining, historic sites, great homes, schools and a low crime rate. 655 Chilver is literally steps to the main strip on Wyandotte St, a 20min transit to University of Windsor, a short trip to Detroit, and a 20min walk to Caesar’s Windsor Casino.
This property consists of 8 legal residential units: 3 x bachelor, 3 x 1 bed, and 1 x 2 bed. Multi-family properties rarely sell in this area of Windsor and typically have overwhelming demand. Currently all units are rented below market value from long-term tenants; however, once all units are turned over, potential rents are over $10,000/month total, allowing for large upside as current rents are about half that at $5145/mo. This building is in amazing shape, the attached buyer’s package includes a full home inspection which notes that buyers needn’t budget for any major structural repairs in the next 5 years.
The Windsor market is hot with properties consistently selling over ask on the MLS and breaking new records for comparable sales. If you’re looking for strong cash flow and affordability in a large market in Ontario, make sure to jump into Windsor!
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✨For full information, videos, and photos check out the link below: