TIME TRAVEL! Condo at 2010 Prices. 50K+ Instant Equity plus potential BRRRR/Flip/Short-Term Rental in North Bay, ON.
122 Giroux St Unit 101, North Bay, ON
✅ Wholesale Price: $120K (Or Best Offer)
✅ Estimated As-Is Value: ~$170K
✅ Estimated After Repair Value: ~$240K
✨Closing: May 5, 2022
North Bay is a thriving City of just over 50K on the North Shore of Lake Nipissing. It is a commercial hub for thousands of Northern cottage goers, and is a strong employer, with more than 65 companies in the mining sector. This vibrant economy ranks it among Sudbury and Sault Ste Marie as the hot spots in Northern Ontario for real estate investment. The Graniteville area where this house is located is one of the top residential areas in the city, with close proximity to local stores, schools and the beaches and parks on Trout Lake.
122 Giroux Unit 101 is a 1 bedroom condo in the Pepperland Court 4-storey brick walk-up. It features 1 bed and 1 bath, with a spacious 677 sqft open floor plan There is a small balcony as well. The condo amenities include parking, common laundry area and storage for each unit. As mentioned above, the seller’s motivation to sell stems from tenant issues. There is reason to believe the space is not well maintained, and the tenant has stopped paying rent. Our representative was not allowed in by the tenant to take pics. Investors should assume that the tenant will need to be evicted (or paid to leave) and that a full cosmetic reno would be required. Click the link below to take a look at the MLS photos from 2010 when the property last sold, it will give you an idea of the layout.
Comparable Sales
🏷149 Lindsay St Unit #309 – $324,900 (Sold March 2022)
🏷122 Giroux Street Unit #404 – $195,000 (Sold June 2021)
🏷149 Lindsay St Unit #309 – $250,000 (Sold June 2022)
✨For full information, videos, and photos check out the link below:
http://mailchi.mp/ontariopropertydeals/122-giroux-st-unit-101-north-bay-on