2-Storey Semi-Detached Full Flip With Separate Entrance to Secondary Suite in Corso Italia (Toronto)!! Assigned

  • $800,000
  • 5 beds
  • 2 baths
  • 960 sqft
Assigned
Located in the heart of Corso Italia, just off of Dufferin, this semi-detached fixer-upper has everything you could be looking for in an investment property! Featuring 3 beds + a den in the upstairs unit, and 2 beds in the basement unit with 2 separate entrances, this property is primed for profit. Less than a minute away from TTC and Dufferin St, walking distance to all amenities (schools, churches, yoga studios, grocery stores, restaurants, etc.) and nightlife on St. Clair West, 5-minsute drive to the Allen/401 with quick and easy access to Dufferin Mall, Stockyards, the Junction, and all that downtown and midtown have to offer, you truly cannot get more convenient than this location!! With a deep lot and a blank canvas to work with, you can truly turn this property into an extremely profitable luxury oasis in the city. At only $800,000, with the overall average for Toronto properties at $1,200,000, you can’t pass up the opportunity to pick up a Toronto property well below $1,000,000!!

We are selling our assignable purchase contract.

Closing is September 7th, 2022
*As per our APS, the Seller is permitted to shorten the closing 1 time to no sooner than January 18, 2022. If the Seller is to shorten the closing date, they must provide written notice at least 30 calendar days before the new closing date.*

**As per our APS, the Seller may stay in the property for a maximum of 10 calendar days after closing. The Buyer and Seller agree that the amount of $15,000 CAD will be held back from the sale proceeds (to be held in trust with the Buyer’s lawyer, until the Seller vacates). If the Seller does not vacate within the 10 days allotted after closing, the $15,000 CAD holdback will not be provided to the Seller, but rather will be released to the Buyer on the 11th calendar day following closing.**

***As per our APS, the property is to be left vacant and in a clean and broom swept condition by no later than 10 days after closing.***
PROPERTY FEATURES
  • 2-storeys
  • 3+2 bedrooms + main floor den
    • 3 bedrooms are located on the second floor
      • Our Acquisitions Rep was unable to access the third bedroom, as it is not only blocked by clutter, but there is a lock on it that the Seller has lost the key to (door must be taken off hinges or lock must be cut off to access this room, as per Seller)
      • Seller states there is a window (Buyer to verify)
    • Den is located on the main floor
      • Main floor den is currently being utilized as an office space
    • 2 bedrooms are located in the basement
  • 2 full bathrooms
    • 4-piece bathroom located on the second floor
      • Second floor bath tub has no caulking and thus there has been a leak into the kitchen ceiling (see HERE &  HERE, 2:10-2:13)
    • 3-piece bathroom located in the basement
      • Water does not turn off in basement shower (as per Seller)
      • New shower, vanity and toilet were all added to basement bath in Summer 2021, though the renovations that were started on this bathroom were never completed (as per Seller)
  • Built in 1921 (renovated in 1990, as per MPAC)
  • Above grade: 960 sq ft (as per MPAC)
    • First floor: 480 sq ft (as per MPAC)
    • Second floor: 480 sq ft (as per MPAC)
      • We believe the total above grade area to be closer to 1100 sq ft, as there was an addition put on prior to the Seller taking ownership in 2004 (Buyer to verify)
  • Basement: 445 sq ft (as per MPAC)
    • Ceiling heights:
      • Kitchen: 6.0105 ft (Buyer to verify)
      • Living area: 6.158 ft (Buyer to verify)
      • Mudroom: 6.129 ft (Buyer to verify)
      • Bedrooms: 5.863 ft (Buyer to verify)
      • Bathroom: 6.293 ft (Buyer to verify)
    • Basement has been previously rented as a secondary suite (as per Seller)
    • The Seller attempted to update the basement, however was not able to complete renovations, hence why there are no kitchen appliances, etc (as per Seller)
    • Laundry is currently located in the basement, however there is no dryer (as per Seller)
  • Separate entrances:
    • Front door opens to main hallway
    • Sliding door in the eat-in kitchen are open to a set of stairs which lead down to the backyard
    • Front basement door opens to a mudroom
    • Back basement door opens into the kitchen area
  • Flooring: laminate, carpet, tile
    • Seller attempted to update the stairs leading up to the second floor, but all the edges have come off and are currently fastened by duct tape (as per Seller)
  • All appliances will be included
  • 200 AMP fuse panel (Our Acquisitions rep did not see any signs of knob & tube but the Seller is unsure whether the electrical has been updated, Buyer to verify)
  • Electric baseboard heating
  • HWT is owned, and was installed in 2012 (as per Seller)
  • No central AC
    • Window AC unit was installed prior to the Seller taking ownership in 2004 (as per Seller)
  • Windows updated prior to the Seller taking ownership in 2004 (as per Seller)
    • Windows appear to be a mix of 1990’s and original (Buyer to verify)
  • Roof was updated 4-5 years-ago
    • 1 shingle has been lifted up by a raccoon (as per Seller)
  • Property features a storage shed
  • On municipal services
  • No garage
  • Street parking through the city is available with a permit (as per Seller)
  • Seller states that they also have the option to add a parking pad, if desired (Buyer to verify)
  • Property taxes: ~$2600/year (Buyer to verify)
  • Lot size: 13.62 ft x 112 ft (as per MPAC)
  • Zoning: RM(f12;u2;d0.8*252) (as per MPAC)
    • The City of Toronto allows Secondary Suites within the primary dwelling of an RM property, so long as it complies with the specific conditions associated with the reference number(s). (see HERE – clause 10.80.20.40) — Buyer to verify

PROPERTY NEEDS

  • Full cosmetic update
  • Repair water damage to the kitchen ceiling caused by upstairs bathroom tub (the Seller states this can be fixed by caulking the tub, but we are not sure if this is the only issue)
  • Stop basement shower from continually having water on
  • Electrical may need to be updated (Buyer to verify)

 

Please click HERE for more pictures and information.
Price:
$800,000
Address:
Dufferin St & Rogers Rd
Toronto, ON
Square Feet:
960
Lot Size:
13.62 ft x 112 ft
Bedrooms:
5
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Other
Year Built:
1921

Call 647-370-0820 for more details

Property Location