Investors, check out this Quintessential Bungalow that ticks all the following boxes:
1) Prime North St.Catharines Location in Grantham - close to the Welland Canal.
2) It’s a Bungalow on a large 60 x 125 lot, with a separate entrance to a basement with 7 foot ceilings - a tried and tested layout that can easily be used to create 2 spacious units.
3) The Price! This property is available to you today at a solid discount. Renovated comparable bungalows are going in the high $700s, and dated, non renovated ones are selling in the low $600s. This property is available at a $100k discount!
This property has been in the same family since it was built and does require a full cosmetic renovation. Electrical would need to be updated to breakers. The roof and HWT were done in the last 5 years - which means that more of your reno funds could be used for improving the finishes.
Thanks to the neighbourhood and the size of the property, you will be able to collect premium rents once the property is renovated. At a $493k purchase price, you are looking at acquiring a fantastic long term hold in a solid neighbourhood with lots of Positive Cashflow Potential. That extra large backyard could also mean that it's a prime candidate for a garden suite in the future. Take advantage of the market and acquire this top quality asset at an entry level price point!
CLOSING: August 31st, 2023
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