3-Bedroom Half Duplex at Jaw Dropping Price in Mission!! Flip or Buy-and-Hold Opportunity Below $400K!! Available

  • $390,000
  • 3 beds
  • 2 baths
  • 1680 sqft

This 2-storey half duplex is an affordable flip or buy-and-hold opportunity in the up-and-coming Mission market!! Located on a quiet cul-de-sac and backing on to a ravine and creek, this is a setting that retail buyers will love!! After cosmetic updating this flip could fetch a tidy profit on the market. Investors also have the option to hold the property as a potential 2-unit rental for cash flow and future gains. Mission continues to be a hot market with prices averaging $931,000, up 4.2% this month, and this is your chance to secure a half duplex at an ultra-low price!!

We are selling our assignable purchase contract.

Closing is August 16th, 2021
**As per our APS, the Seller will be permitted to live on the premises for no later than 90 calendar days after closing. The rate will be $2000/month (excluding utilities, which will remain in the Seller’s name) calculated on a pro-rated basis. $6000 dollars will be held back by the Seller’s lawyer in trust as compensation for the Seller’s monthly stay. Once the Seller has vacated the property and left it in reasonable condition, the remaining balance, if any, of the holdback, shall be released to the Seller within 2 business days.**

PROPERTY FEATURES
Please note: This property is a 2-storey, side-by-side half duplex. This property forms a strata with the adjoined half duplex, however there are no strata fees or formal financial arrangements in place with the other half of the duplex. Only maintenance decisions (like replacing the roof) are made by owners of both units.
  • 3 bedrooms
    • The master bedroom and another bedroom are both missing their closet doors
  • 2 bathrooms
    • 2-piece master ensuite
      • This bathroom is currently missing a door, and is being utilized as storage
    • 4-piece bathroom located on the second floor
      • This bathroom is currently missing a mirror
  • Built in 1980
  • Total floor area: 1680 sq ft (as per BC assessment)
    • First floor: 560 sq ft (as per BC assessment)
    • Second floor: 560 sq ft (as per BC assessment)
  • Unfinished basement: 560 sq ft (as per BC assessment)
    • Ceiling height: 7 ft 6 in
    • Laundry area
  • Separate entrances:
    • Front door opens to the kitchen
    • Sliding glass door in the family room opens out to the deck area
    • Door in the basement opens out to the back of the property, under the deck area
  • Fridge, oven, dishwasher, washer and dryer will all be included 
  • Functional wood-burning fireplace on the main floor (was last cleaned and serviced in 2019, as per Seller)
  • Flooring:
    • Laminate flooring in the main floor family room is showing some signs of swelling, and could benefit from replacement
    • Older carpet throughout the second floor and on the stairs
  • 100 AMP breaker panel
  • Gas furnace appears to be original (exact age is unknown, as per Seller)
  • HWT is owned, and it appears to be 10-15-years-old (exact age is unknown, as per Seller)
  • Windows appear to be original (exact age is unknown, as per Seller)
  • Roof was replaced in 2017 (as per Seller)
  • On municipal services
  • Property backs on to a ravine that contains a creek
  • There is a deck area as well as a small pond in the backyard
  • 1-car parking pad
  • Lot size: ~4000 sq ft (as per Seller, lot size was not provided on BC assessment)
  • Zoning: Land Use Contract (see HERE)
    • For more information on LUC’s, please click HERE. There appears to be enough square footage in the basement to accommodate an in-law/secondary suite. It is unclear as to whether or not an LUC allows for a mortgage helper suite, however the LUC zoning will be terminated by 2024 as per Provincial legislation (Buyer to verify)
PROPERTY NEEDS
  • Cosmetic updating
  • Possibility to add a secondary or in-law suite (Buyer to verify)

 

Please click HERE for more pictures and information.

Price:
$390,000
Address:
McRae Ave & Hurd St
Mission, BC
Square Feet:
1680
Lot Size:
~4000 sq ft
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1980
Basement:
Unfinished

Call (647) 400-2093 for more details

Property Location