Triplex with 4plex Conversion Potential Near Downtown Thunder Bay, Perfect BRRR Potential! 492 Harold St N, Thunder Bay For Sale

Triplex with 4plex Conversion Potential Near Downtown Thunder Bay, Perfect BRRR Potential! 492 Harold St N, Thunder Bay  

✅ Wholesale Price: $300K Or Best Offer)
✅ Estimated As-Is Value: ~$360K
✅ Estimated After Repair Value: ~$450K

Closing: June 27, 2022

This is an amazing opportunity to purchase a highly undervalued triplex with simple conversion into legal 4plex for less than 300K in the strong growth market of Thunder Bay, ON. The upper floor apartment can easily be converted to 2 x bachelor units, meaning there is potential here for a perfect BRRRR or epic flip! A 4 bedroom single family home sold in the same neighborhood sold for over 350K last month, and a neighboring Legal Duplex sold for 245K recently as well (over $120K/unit). With tons of upside potential, investors do not want to miss out their chance to get into the Thunder Bay market. Check out the Photos & Video,below and contact Peter today at 647 955 0843 to place an offer or learn more about this opportunity.

This property consists of 3 legal residential units. On the main floor there are 2 separate 1 bedroom, 1 bath units. On the second floor there is a single unit that is technically a bachelor with 2 full baths. In the past this was 2 x bachelor units and can be converted back (buyer to confirm). There is further potential to increase income with a coin laundry in the basement. Currently all residential units are rented below market value from long-term tenants (month-to-month lease); however, once all units are turned over, potential rents are close to $5K month total, allowing for large upside as current rents are $2800/month.

Comparable Sales:
🏷450 Vickers St N – $354,000 (Sold Mar 2022)
🏷746 McKellar St N – $306,000 (Sold March 2022)
🏷324 Syndicate Ave – $329,900 (Active Listing)
🏷401 Vickers St N – $245,000 (Sold Feb 2022)

✨For full information, videos, and photos check out the link below:
https://mailchi.mp/ontariopropertydeals/492-harold-st-n-thunder-bay-11437640

Address:
Thunder Bay
Terms:
For Sale
Property Type:
Multi-family

Call 647-955-0843 for more details