Brick Bungalow with Separate Entrance to Basement on Extremely Desirable Street in Kennedy Park!! Available

  • $980,000
  • 3 beds
  • 2 baths
  • 1013 sqft
You truly can’t get a more desirable lot on this street, let alone below $1,000,000!! With comparable properties selling for $1,200,000 as-is, the profit potential of this property is HUGE. Featuring 3 beds, a partially finished basement with a separate entrance, full bath, and roughed-in kitchen, on a large lot with 2 storage sheds, ample storage solutions inside, and 5+ car parking, this property is perfect for flip, wholetail and/or rental!! This street is intensely desired due to the proximity to all amenities (schools, restaurants, shopping, groceries, 401, GO transit, TTC, 20 min drive to downtown TO, etc.), and the rising property values from flips and tear-downs turned 2-storey multi-million dollar mansions. No matter how you look at it, you’ll walk away from this investment with profit in your pocket. At only $980,000, you’ll have to run, not walk, to catch this amazing deal!!

We are selling our assignable purchase contract.

Closing is May 10th, 2022
*As per our APS, the Seller is permitted to shorten the closing 1 time by up to 60 calendar days. 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 Buyer will be responsible for the removal of any items (dressers, cabinets, gardening equipment, buffet), in the house left by the Seller after the closing date.**

***As per our APS, the Buyer agrees to reimburse the Seller for the Seller’s legal costs amounting to a maximum of $1500 CAD.***

PROPERTY FEATURES
  • 3 bedrooms
    • Clothing storage system is in one of the secondary bedrooms included (as per Seller)
  • 2 full bathrooms
    • 4-piece bathroom located on the main floor
    • 4-piece bathroom located in the basement
      • Fan in this bathroom is currently broken (as per Seller)
  • Built in 1957 (renovation year listed as 1990, as per MPAC)
  • Above grade: 1013 sq ft (as per MPAC)
  • Partially finished basement: 1013 sq ft (as per MPAC)
    • Roughed-in kitchen in basement, however it currently is just a sink with the electrical capacity for a stove (as per Seller)
    • 4-piece bathroom
    • Separate entrance
    • Ceiling heights (Buyer to verify all):
      • 6.6076 ft to ceiling (bottom of stairs)
      • 6.578 ft to ceiling (finished living area/ roughed in kitchen)
      • 6.352 ft to ceiling (little hallway in front of bathroom)
      • 6.8077 ft to bathroom ceiling
      • 7.103 ft to ceiling (partially finished side by laundry)
      • 6.122 ft to duct (partially finished side by laundry)
      • 6.955 ft to ceiling (partially finished side by furnace)
  • Separate entrances:
    • Front door opens to main entrance way
    • Side entrance opens to a landing, with the option to go up to the main entrance way or down to the basement
  • Flooring: hardwood, tile, poured concrete
  • All appliances, including 2 of 3 deep freezers, will be included
    • 1 of the standup freezers will be excluded 
  • 100 AMP breaker panel
    • The wiring appears to be very dated, however the Seller claims that there is no knob & tube (Buyer to verify)
  • Kitchen features and induction hot plate and oven, rather than a regular stove
  • Oil furnace is owned, and was replaced in 2011 along with the oil tank (as per Seller)
    • Ducts were replaced in the 1990’s (as per Seller)
  • HWT is rented, and was installed between 2019-2020 (as per Seller)
  • 1 floor unit AC and 1 window unit AC will be included 
  • Front window was updated in 1990, however all others are believed to be original (as per Seller)
  • Roof was last updated in 2011 (as per Seller)
  • Property features:
    • 2 storage sheds in yard
    • Japanese maple tree in yard was planted by Seller’s mother when they moved in (Seller has requested this stays)
  • On municipal services
  • Parking for 5+ cars in the driveway
  • Property taxes: ~$3200/year (Buyer to verify)
  • Lot size: 40 ft x 163.83 ft (as per MPAC)
  • Zoning: RD(f12;a464*340) (as per MPAC)
    • The City of Toronto allows Secondary Suites within the primary dwelling of an RD property, so long as it complies with the specific conditions associated with the reference number(s). (see HERE – clause 10.20.20.20) — Buyer to verify

PROPERTY NEEDS

  • Full cosmetic update
  • Possibility to convert the basement into a secondary suite (Buyer to verify)

 

Please click HERE for more pictures and information.

Price:
$980,000
Address:
St.Clair Ave E & Kennedy Rd
Scarborough, ON
Square Feet:
1013
Lot Size:
40 ft x 163.83 ft
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1957
Basement:
Partially finished

Call (647) 400-2093 for more details

Property Location