RARE FIND! Off Market Mixed-Used Partially Vacant Commercial and Residential Building Near Downtown Peterborough :757 Lock St, Peterborough
✅ Wholesale Price: $415K (Or Best Offer)
✅ Estimated As-Is Value: ~$750K
✅ Estimated After Repair Value: ~$1.1M
✨Closing: June 6th, 2022
We got a hot one today! This is a rare chance to purchase a mostly vacant mixed use commercial /residential building in the highly sought after Crawford’s Grove neighborhood of Peterborough. 757 Lock is being offered WAY below market value. The neighboring property, which is very similar in size, zoning, and layout, sold vacant in September for 1.1M, firmly establishing the ARV at over 1 million for this property. It is currently separated into 2 vacant commercial units and one tenanted 2 bedroom apartment. With C1 zoning, you can legally convert one of the commercial units into a second dwelling unit (in fact it was previously residential). It may even be possible to further develop the site (buyer to confirm with city). This offers amazing upside as a flip, epic BRRRR, house-hack or dream spot for entrepreneurs who want to live on site. Check out the Photos/Videos and contact Peter today at 647 955 0843 to place an offer or learn more about this opportunity.
Located in an idyllic residential neighborhood, this property is a short walk to Lansdowne Place, Peterborough’s top shopping centre, and also super close to the scenic Otonabee River. Peterborough is a strong rental market. The city has several post secondary institutions (Trent, Fleming College etc.), a strong healthcare employer, and many large corporations factories such as PepsiCo Foods, AON Inc. Only a 1 hour drive to major cities in Durham (Pickering, Ajax, Oshawa) and 1hr30 minute drive to Downtown Toronto, this city is primed for long-term appreciation. With properties on the MLS regularly having over 10+ bids and many walkthroughs, this is your rare opportunity to purchase an undervalued asset under market value with minimal competition.
✨Comparable Sales
🏷755 Lock St – $1,100,000 (Sold Feb 2022)
✨For full information, videos, and photos check out the link below:
https://mailchi.mp/ontariopropertydeals/757-lock-st-peterborough