2-Storey Condo Townhouse Quick Flip in Guelph!! (Over 1,100 Sqft For Under $500K!!) Assigned

This excellent condo townhouse is over 1,100 square feet, and requires cosmetic updating!! While built in 1977, this unit has an HVAC system, a mostly brick exterior, a finished basement, low maintenance fees, and surface pad parking. Located in the desirable west Guelph, central and close to schools, hospitals, libraries, Stone Road Mall, and Hanlon Expressway, this is a profitable flip and affordable rental in equal measure!! A great price for a property in a complex that is in-demand, and has units typically selling in under 10 days on the MLS!! Don’t miss out!!

We are selling our assignable purchase contract.

Closing is September 7th, 2021
**Please note: This property is tenant-occupied, but vacant possession is required. In the event the tenants haven’t vacated upon closing, the Seller is allowed to extend the closing date up to 5 business days. If the tenants haven’t left after this 5 day grace period, the Buyer can cancel the APS and refund their deposit with our consent or offer the Seller an extension at $2,500 per 30 days on a prorated basis. The Buyer can also, in their sole discretion (not requiring our consent), assume the tenants at a $30,000 price drop. If the Seller signs any N11, N9, or LTB forms with the tenants, they have contractually agreed to deliver copies of these fully executed documents.**

**Upon closing, the Buyer will be responsible for paying up to $5,000 (HST included) to buy out the Seller’s furnace and AC. This buyout is estimated to be between $5000-8000 (as per Seller).**

• 2-storeys
• 3 bedrooms
  • Each bedroom features a bi-fold closet
• 2 bathrooms
  • 4-piece bathroom is located on the second floor
  • Large, 2-piece bathroom is located in the basement
    • Our acquisitions rep has noted that the 2-piece bathroom in the basement is quite large, and could accommodate a standing shower like many of the comparables (Buyer to verify)
• Built in 1977
• Above grade: 1113 sq ft (as per MPAC)
  • First floor: 548 sq ft (as per MPAC)
  • Second floor: 565 sq ft (as per MPAC)
• Basement: 558 sq ft (as per MPAC)
  • Utility room is the only area that remains unfinished (as per Seller)
  • Wet bar
  • Laundry area
• All appliances belonging to the Seller will be included
  • Stainless steel appliances are included, however the stove elements are scorched and need repair
  • Washer and dryer are included, and are located in basement
• 100 AMP breaker panel
• Gas furnace, central AC, and water softener are all rented, and are approximately 7-years-old (as per Seller)
  • The Buyer will be responsible to buy out the rental furnace and AC up to $5,000 including HST (as per the APS)
  • Buyer to assume water softener rental
• HWT is rented, and was replaced a few-days-ago (Buyer to assume rental)
  • The previous HWT rusted out, and has been taken off site. A small leak resulted in the basement, though it’s been cleaned up and only a small part of the carpet is stained (as per Seller)
• Brick and aluminum siding exterior
• On municipal services
• 1 private parking space is assigned to the unit (included in condo fess, as per Seller)
  • No visitors parking is available in the complex, only resident parking and a few spaces reserved for contractors (as per Seller)
• Condo fee: ~$380/month (as per Seller)
  • Includes: insurance, building maintenance, common elements, decks, doors, landscaping, PM fees, roof, snow removal, water, windows (as per Seller & MLS listings) — Buyer to verify
  • Property Management is through Sanderson Management (as per Seller)
• Zoning: R4-11 (as per MPAC)

PROPERTY NEEDS

• Cosmetic updating

Please click HERE for more pictures and information.