1.75-Storey Flip Opportunity on Premium 0.5 Acre Lot 20 Mins From All Major Centres (Wasaga, Barrie, Orillia, Midland, Oro) in the Simcoe Area!! Assigned

  • $450,000
  • 3 beds
  • 1 baths
  • 928 sqft
Assigned
Location is everything with this half acre property that is surrounded by million dollar, multi-acre lots, all just a short drive from Lake Simcoe. With Wasaga Beach, Orillia, Barrie and Midland only a 20 minute drive away, as well as Burl’s Creek (event grounds in Oro Medonte) close by, this property is perfect for Airbnb/short term rental as well as a great flip opportunity!! Featuring 3 beds, 1 full bath, an updated kitchen, 1.75-storeys, a detached, 1-car garage (with an auto work pit), storage shed, hot tub with gazebo, basement + a crawl space, steel roofing, new appliances, and 10+ car parking, this property is a hidden gem with all of the allure of a cozy cottage getaway and the amenities of a city. With tons of space to enjoy and build the perfect retreat, the ARV for this property could be ginormous!! The average detached, 3-bed in the  Springwater area sells for $1,100,000, making our property an absolute steal at only $450,000!! Act fast, because this one won’t last!!

We are selling our assignable purchase contract.

Closing is December 3rd, 2021
**As per our APS, the Seller may stay in the property for 3 days after closing (December 6th, 2021). A holdback of $5,000 is to be held in trust with the Buyer’s lawyer until the Seller has vacated the property.**

PROPERTY FEATURES
  • 1.75-storeys
  • 3 bedrooms
  • 1 full bathroom
    • 4-piece bathroom is located on the main floor
      • Tub and vanity were both updated in 2020 (as per Seller)
  • Built in 1890 (renovated in 1976, as per MPAC)
  • Above grade: 928 sq ft (as per MPAC)
    • We believe the sq ft to be closer to 1100-1300 sq ft (Buyer to Verify)
      • First floor: 464 sq ft (as per MPAC)
      • Second floor: 464 sq ft (as per MPAC)
  • Unfinished basement:
    • Ceiling height 5.157 ft to duct, 6.667 ft to ceiling (Buyer to verify)
    • Access to the basement is in the kitchen floor, which opens to a set of stairs that lead down
    • There is an additional crawl space located underneath the older portion of the house, and is accessed from inside the basement
  • Separate entrances:
    • Front door is currently not in use, and is boarded off (porch was converted into a laundry room, as per Seller)
    • Side entrance is used as the main entrance, and leads directly into the kitchen
  • Flooring: hardwood, laminate, tile, concrete, dirt
    • Living room flooring was updated in 2014 (as per Seller)
    • Kitchen flooring updated with full kitchen reno (as per Seller)
  • Kitchen has been fully renovated, and features all new appliances (as per Seller)
  • Seller once left a window open during a downpour ~15-years-ago and the master bedroom flooded (as per Seller)
    • There is no current leak or any issues, however there is still residual discolouration on the living room ceiling from the water damage
  • All appliances will be included
    • All kitchen appliances are new, from the last 3 years (as per Seller)
  • 200 AMP fuse panel
  • Wood stove is used to heat the property (as per Seller)
  • Electric baseboards can be found throughout the house and they are functional, however they are not in use (as per Seller)
  • HWT is owned, and was installed prior to ownership (as per Seller)
  • Window unit AC
  • All windows have been updated during the Seller’s ownership, except for those in green room (as per Seller)
    • Window in the green room is an unknown age (as per Seller)
  • Roof was updated to steel prior to ownership (as per Seller)
  • Drilled well is shared with the neighbouring property (as per Seller)
    • Municipal water is available at an additional cost (Buyer to verify)
  • Septic was last emptied in 2017 (as per Seller)
  • Property features:
    • Storage shed
    • Hot tub with gazebo
  • 1-car, detached garage (built in 1976, as per MPAC)
    • Garage features a lowered area in the middle for doing work on cars
  • Parking for 10+ cars in the driveway
  • Property taxes are approximately $1800/year (Buyer to verify)
  • Lot size: 110 ft x 198 ft (as per MPAC)
  • Site area: 0.50 A (as per MPAC)
  • Zoning: RU (as per MPAC)
    • This property is a part of the Rural Tay map. The bylaw section for RU properties, and permitted uses include, but are not limited to: Accessory dwelling unit, Bed and breakfast establishment, home occupation, etc. (Buyer to verify)

PROPERTY NEEDS

  • Full renovation

 

Please click HERE for more pictures and information.

Price:
$450,000
Address:
Scarlett Line & Moonstone Rd W
Oro-Medonte, ON
Square Feet:
928
Lot Size:
110 ft x 198 ft
Bedrooms:
3
Bathrooms:
1
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1890
Basement:
Unfinished

Call (647) 400-2093 for more details

Property Location