Backsplit Flip or Rental Opportunity in a Prestigious Area of Scarborough Bluffs!! Assigned

  • $1,050,000
  • 4 beds
  • 3 baths
  • 1264 sqft

This property sits on a large, 207 ft deep lot in the stunning Scarborough Bluffs area and is the perfect flip opportunity! This 3+1 bed, 2.5 bath, backsplit has both a 1-car, attached garage and a carport. With a side entrance leading to stairs that go to the finished basement, this property is completely set up for you to add a secondary suite to maximize profit. Walking distance to Sylvan Park, this property is surrounded by nature and unrivalled views of the lake only minutes away. The average 3-4 bed detached house price in this extremely sought after neighbourhood ranges from $1.4 – $1.7M and continues to increase. At only $1,050,000, you can’t let this opportunity pass you by!!!

We are selling our assignable purchase contract.

Closing is March 16th, 2021
**As per our APS, should the Seller not be able to vacate on closing due to Covid-19 restrictions, the Seller will be permitted to live on the premises for no longer than 90 days at a rate of $3,000/month (excluding utilities, which shall be in the tenant’s name) calculated at a prorated basis. If the Seller’s need to stay, $20,000 will be held back by the Seller’s lawyer in trust as compensation for the Seller’s monthly rent. Once the Seller has vacated the property, the remaining balance, if any, of the holdback shall be released to the Seller.**

PROPERTY FEATURES
  • This property is walking distance to Sylvan Park, with incredible views of the lake (see HERE). There are homes that have been luxuriously renovated and we believe this could be a great flip opportunity.
  • 3+1 bedrooms 
  • 3 bathrooms
    • Full bathroom on top floor
    • Powder room next to front entrance
    • Full bathroom in basement 
  • Built in 1955 (renovated in 1990, as per MPAC)
  • Above grade: 1264 sq ft (as per MPAC) 
  • Basement: 602 sq ft (as per MPAC)
    • Bedroom (ceiling height of 7.46 ft)
    • Living room (ceiling height of 7.523 ft)
    • Full bathroom
    • Laundry area (leads to furnace and storage area)
    • Furnace and storage (ceiling height of 5.374 ft)
  • Side entrance leads to basement stairway and kitchen
  • Front entrance is on the right side of the house
  • Master bedroom has sliding door to back yard
  • Central vac
  • 100 AMP breaker panel (located in basement bathroom)
  • Oil furnace
    • Over 25-years-old but is maintained every year and has a 1-year-warranty on parts & labour, as per Seller
    • There is a gas hookup for the HWT so an update  to a gas furnace can be easily completed  
    • Oil tank is on the right side of the crawl space (currently covered by things in the storage space) and is a similar age to the furnace. The Seller has stated that it has also been maintained on a yearly basis.         
  • HWT is rented (installed in 2020, as per Seller)
  • Central AC (older, but was refurbished in 2020, as per Seller)
  • Windows were last updated over 20-years-ago (as per Seller)
  • Roof was last updated over 20-years-ago (as per Seller)
  • Fireplace in backyard (provides extra heat to basement, as per Seller)
  • Small storage shed behind garage
  • 1-car, attached garage (240 sq ft, as per MPAC)
    • No access to house from garage
    • Side door in garage leads to the backyard
    • Has built-in workshop area
  • Carport (added in 1992, as per MPAC)
  • 6-car driveway
  • Lot size: 56 ft x 207.33 ft
  • Zoning: RD(f15;a557*117)
    • This zoning allows for a secondary suite — Buyer to verify (see HERE & HERE)

PROPERTY NEEDS

  • Full cosmetic update
  • New roof & windows
Price:
$1,050,000
Address:
Bethune Blvd & Sylvan Ave
Scarborough, ON
Square Feet:
1264
Lot Size:
56 ft x 207.33 ft
Bedrooms:
4
Bathrooms:
3
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1955
Basement:
Finished

Call (647) 400-2093 for more details

Property Location