This is an amazing opportunity to purchase a cash-flowing single-family house in great condition, with potential value-add opportunities and in one of the best cash-flowing real estate markets in Canada. Act quickly and avoid bidding wars with this property!
This single-family house is located in the 300 Block of Mountain Avenue where there has been significant gentrification over the past couple of years. This property has already had many renovations completed. The main floor is turnkey with easy potential to add another bedroom. The basement height is approximately 6.5ft (buyer to confirm) with mid-renovation framing and insulation completed to add 2 additional non-conforming bedrooms in the basement. With easy potential to add a total of 2-3 extra bedrooms to this property without changing layout, it serves as a great cash flowing BRRRR project for both new and experienced investors.
The property is located on a quiet street in East Flour Mill and is a 1 minute walk from the Rotary Park Trail and is a largely residential neighbourhood. The property is within a 3 minute driving distance to many restaurants, stores, services etc. This area will primarily attract first time home buyers and families looking to stay in a quiet residential area.
Many major upgrades have already been made to the property including roof, vinyl siding, gas furnace, sump pump, weeping tiles (confirmed with city – proof in Google Drive) etc. Note there is currently an open permit on the property to backfill the weeping tile (see Google Drive). City inspection for weeping tiles have been approved and completed up to code. Estimated cost for backfill ~3k-4k.
The market for entry-level properties homes in Sudbury is hot right now, with significant price appreciation >20% Year-over-Year, constant bidding wars and most homes going over asking.