Here’s your opportunity to purchase an undervalued bungalow situation on just over 2 acres of land in Peterborough! This property is only a 5-minute drive from many amenities of Peterborough and only 2 minutes from highway 115. This property comes vacant on possession and provides flippers or buy and hold investors a great opportunity to add value while buying a discounted property.
Note: As per the APS, the seller has the right to extend the closing date up to 30 days with 14 days notice to Buyer’s Lawyer
This is a rare opportunity to purchase a 2 acre bungalow in the fast growing city of Peterborough!
Take advantage of this bungalow with in law suite potential in Peterborough, with over 2 acres of land. Located on the cusp of Peterborough in a quiet area, the property is conveniently within a 5 minute drive to many amenities of Peterborough including parks, grocery stores, schools, restaurants etc. This property provides a great BRRRR and buy and hold potential for investors.
This property has approx. 2400sqft of finished living area (including basement), newer roof (less than 10 years), updated mechanicals including a 2021 owned furnace, 2019 hot water tank, ABS plumbing, Breaker panel copper electrical etc. With 3 bedrooms in the upper floor and 2 bedroom below grade, this property provides basement rental potential for investors. With many major mechanical updates made throughout the year, investors can add value via cosmetic renovations as well as renovating the basement to an in-law suite (non-conforming) for additional income potential.
The suburban detached market in Peterborough has amazing long-term potential, being less than a 2 hour drive to Toronto, in addition to having a growing population (81k currently per 2016 census), and easy highway access via highway 7 and 115. You do not want to miss out on this opportunity!
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PROPERTY FEATURES:
- Vacant possession
- Detached brick bungalow
- Lot Size over 2 acres per Geowarehouse
- 3 bed above grade + 2 bed below grade
- 2 bathrooms – one bathroom is in the attached garage
- 2 Garages
- Detached garage at front of house
- Attached garage
- Poured concrete foundation
- Basement height approx. 6’2 to 6’4 ft with separate entrance
- Sewer is septic added 10 years ago, pumped last year
- Plumbing: ABS
- Electrical: Copper & breaker
- Roof is 4 years old and 10 years for the addition
- Hot water tank – 2019 & owned
- A/C – 1999 & owned
- Gas Furnace – 2021 & owned
- No noticeable basement moisture
- Drilled well water source
- Fully finished basement with kitchenette
- Last summer the owner updated vinyl windows, bathroom and flooring (as per owner)
- Built 1960s per MPAC