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No mistakes in the price here. Yes, this is a 4 Bedroom Fully Detached Backsplit in Toronto for under $650K!
This Rouge Hill property is located in one of the best areas of Scarborough - right along the Pickering border and close to all amenities, including Rouge Park. With easy access to the 401, and within close proximity to the Toronto Zoo and many other amenities, this is a great property for any investor looking to take on a project in a great neighbourhood.
This property is currently a shadow of its former self. It was left vacant for a few years and subsequently, it is in need of a full gut reno. A new roof, new HVAC, new plumbing and electrical will be needed along with all the cosmetic items. This is a project for serious buyers with cash/private funds who can execute a full-blown renovation looking for a lucrative return.
Due to the scope of work required, it is a perfect blank slate for investors with different goals - a duplex conversation, a full renovation to flip, a student rental or a future primary residence that's built to your taste. With a $500k spread, the choice is yours!
In the City of Toronto, it is almost unheard of to be able to purchase a property at less than sixty cents on the dollar. This deal is available to you today with a $500k spread to ARV. What else can you call a Profitable Property?
Purchase Price: $625,000 (Assignment Fee Included)
Closing Date: October 14th, 2022
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