Brick 2-Storey Flip Opportunity in Barrie!! Assigned

  • $850,000
  • 4 beds
  • 3 baths
  • 2732 sqft
Assigned
Located just off of Mapleview Drive in Barrie, you’ll find this incredible 2700+ sq ft, brick, 2-storey, with an attached, 2-car garage. Minutes away from all amenities (shopping, restaurants, groceries, schools, parks, the 400, gas stations, and more) you truly can’t get more convenient or desirable than this property!! Lived in by the same owner since being built in 1999, it’s been lovingly maintained and requires only cosmetic updates to bring it to its full potential and value. Featuring 4 beds, 3 baths, laundry on the second floor, an office with window, 2 walk-in closets + an ensuite in the master, large living area with gas fireplace, central vac, sitting room, dining room and eat-in kitchen with a large, blank slate to work with in the basement, this property is truly a gem hidden amongst smaller houses. But wait — there’s more?! The property boasts a microFIT solar panel system that currently provides the Seller with additional income, with the option to increase the profit by paying down what is owed on the panels (Buyer to verify). All maintenance, including removal (should you wish to re-shingle the roof), is included in the carrying costs. The average 4 bedroom, detached property in Barrie sells for $1,100,000, up 48% over this time last year!! At only $850,000, you truly can’t pass up this amazing deal just begging to make you profit!!

We are selling our assignable purchase contract.

Closing is January 20th, 2022

PROPERTY FEATURES
  • 4 bedrooms + main floor office
    • Master bedroom features a 4-piece ensuite and 2 walk-in closets
  • 3 bathrooms
    • 4-piece master ensuite is located on the second floor
    • Additional 4-piece bathroom located on the second floor
    • 2-piece bathroom located on the main floor
  • Built in 1999
  • Above grade: 2732 sq ft (as per MPAC)
    • First floor: 1176 sq ft (as per MPAC)
    • Second floor: 1556 sq ft (as per MPAC)
      • There is a large, family room located on the second floor (~400-500 sq ft, Buyer to verify)
  • Unfinished basement: 1192 sq ft (as per MPAC)
    • Ceiling heights: (Buyer to verify all)
      • To joists: ~8 ft
      • To beam: 7.615 ft
      • To duct: 6.79 ft
    • Cold room located in the basement
  • Separate entrances:
    • Front door opens to main entrance way
    • Sliding doors in the kitchen area open out to the back patio
    • Side door opens into the garage
    • Additional door in the garage opens to a landing, which either leads up to the main floor, or down to the basement
  • Flooring: tile, linoleum, carpeting, wood, poured concrete
  • All appliances are original, and will be included
  • Laundry room is located on the second floor
  • Gas fireplace was last maintained 3-4 years ago (as per Seller)
  • Hole in the kitchen ceiling is from where a plumber repaired a leak from the toilet upstairs. It simply needs to be patched, as it is only residual cosmetic damage (as per Seller) — see HERE
  • 100 AMP breaker panel
  • HE gas furnace is owned, and is 3-years-old (as per Seller)
  • HWT is rented, and was installed 6-7 years ago (as per Seller)
  • AC is owned, and is 3-years-old (as per Seller)
  • Central VAC
  • Water softener
  • New fire alarms and CO2 detectors were installed in November 2021 (as per Seller)
  • All windows are original from 1999 (as per Seller)
  • Roof was updated 6-7 years ago (as per Seller)
  • Solar panels were added to the roof in May 2018 (as per Seller)
    • MicroFIT program for 10kw of solar panels and the power generated goes directly to the city grid. Maintenance is included, and the company will take the solar panels off to update the roof when the time comes (as per Seller)
    • Seller receives part of profit that is produced through the solar panels. We are looking to receive more information about this.
    • Beacon energy and Polaron are who the contract is with (as per Seller)
    • Solar panels can be bought outright which will increase the return (profit) amount (as per Seller)
    • From our experience, MicroFIT contracts can only be transferred to individuals, not corporations. Therefore, the Buyer would need to close in their personal name or alternatively, buyout the remainder of the solar panel contract.
  • Backyard features:
    • Awning over laid stone patio area
    • Storage shed
    • Entrance to backyard via fence doors on both sides of the house
  • On municipal services
  • 2-car, attached garage with in-house access (430 sq ft, as per MPAC)
    • 2 electric garage openers (installed) are included
  • Parking for 4 cars in the driveway
  • Property taxes: ~$5000/year (Buyer to verify)
  • Lot size: 38.68 ft x 121.75 ft (as per MPAC)
    • This lot is slightly wider at the back. The Geowarehouse shows that the back of the property is 45.88 ft (Buyer to verify)
  • Site area: 0.11 A (as per MPAC)
  • Zoning: R3 (as per MPAC)

PROPERTY NEEDS

  • Cosmetic updates

 

Please click HERE for more pictures and information.

Price:
$850,000
Address:
Red Oak Dr & Mapleview Dr W
Barrie, ON
Square Feet:
2732
Lot Size:
38.68 ft x 121.75 ft
Bedrooms:
4
Bathrooms:
3
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1999
Basement:
Unfinished

Call (647) 400-2093 for more details

Property Location