Bungalow Duplex in Innisfil!! Assigned

  • $925,000
  • 3 beds
  • 2 baths
  • 1064 sqft
Assigned
Situated on a gorgeous lot just east of the 400 in Innisfil, this 2+1 bedroom, 2 bathroom, brick bungalow, with an attached, 2-car garage (converted to storage lockers) has been legally converted to a duplex and is primed for profit (Buyer to verify)!! The tenants are all responsible and reliable, treating the property as their own (as per Seller). Updated in 2020, this is the perfect investment property with little to no overhead and a high resale value (not accounting for any additional renos that will increase the value!). With Lake Simcoe, Barrie and the Tanger outlets just a short drive away, this stunning country property with breathtaking views affords the peace, quiet, and privacy of a cottage with the amenities of a city. At only $925,000 you can’t pass up the opportunity to invest in an already lucrative investment property for a fraction of the value!!

We are selling our assignable purchase contract.

Closing is January 12th, 2022
*As per our APS, the Buyer agrees to assume the current tenants (names written in contract) at the current monthly rate of $1500 (including utilities). The Buyer is aware that the original lease has expired and that the current tenants are living on a verbal month-to-month agreement.*

**As per our APS, the Buyer agrees to assume the current tenants (names written in contract) at the current monthly rate of $1900 (including utilities). The Buyer is aware that the original lease has expired and that the current tenants are living on a verbal month-to month-agreement.**

PROPERTY FEATURES
  • 2+1 bedrooms
    • 2 bedrooms are located in the Main Floor Unit
    • 1 bedroom is located in the Basement Unit
  • 2 full bathrooms
    • 4-piece bathroom is located in the Main Floor Unit
    • 3-piece bathroom is located in the Basement Unit
      • Shower was added to this bathroom in 2020 (as per Seller)
  • Built in 1968
  • Above grade: 1064 sq ft (as per MPAC)
  • Finished basement: 1118 sq ft (as per MPAC)
    • Ceiling heights:
      • 6.627 ft to ceiling with laminate (Buyer to verify)
      • 6.102 ft to duct (Buyer to verify)
      • 6.608 ft to ceiling with carpet (Buyer to verify)
    • Egress windows were added to basement in 2020 (as per Seller)
    • Access to basement from the main floor has been sealed off as of 2020 (as per Seller)
  • Separate entrances:
    • Front door opens to main entranceway of the Main Floor Unit
    • Door to the left of the garage opens into the breezeway, with access to the Basement Unit as well as the storage lockers
    • Door located at the back of the property also leads directly into the breezeway
  • Full kitchen update was completed in the Main Floor Unit in 2020, and includes new cupboards, quartz countertops, and flooring (as per Seller)
  • Separate laundry is provided for each unit
  • Flooring: tile, hardwood, laminate, and carpeting
    • Flooring in the basement was updated in 2020, except for the bathroom (as per Seller)
  • All appliances included
  • 100 AMP breaker panel
  • Oil furnace is owned, and was installed in 2012 (as per Seller)
    • Oil tank was last replaced in 2020 (as per Seller)
  • HWT is owned, and was installed in 2020 (as per Seller)
  • AC is owned, and was installed prior to ownership (as per Seller)
  • All windows have been updated in the last 5 years (as per Seller)
  • Roof and eaves were last updated in 2013 (as per Seller)
  • Drilled well (as per Seller)
  • New septic was installed in 2020 (as per Seller)
  • Property taxes: ~$3392/year (Buyer to verify)
  • Attached garage is only 1-car wide, though is 2-cars deep, with direct access to breezeway (480 sq ft, as per MPAC)
    • Garage is currently being utilized as 3 storage areas — a shared storage space and 2 storage lockers (1 storage locker is designated for each unit, as per Seller)
  • Parking for 8+ vehicles in driveway
  • Lot size: 100 ft x 200 ft (as per MPAC)
  • Zoning: A (as per MPAC)
  • Legal duplex certification was acquired in 2020 (as per Seller)

UNIT BREAKDOWN
Main Floor Unit:

  • This unit is currently tenanted at a rate of $1900/month, inclusive of utilities, on a verbal month-to-month agreement (original lease has expired, as per Seller)
  • 2 bedrooms
  • 4-piece bathroom
  • In-unit laundry
  • Has access to a designated storage locker in the garage, which is accessed through the breezeway

Unit 2:

  • This unit is currently tenanted at a rate of $1500/month, inclusive of utilities, on a verbal month-to-month agreement (original lease has expired, as per Seller)
  • Located on the main floor of this property
  • 1 bedroom
  • 3-piece bathroom
  • In-unit laundry
  • Has access to a designated storage locker in the garage, which is accessed through the breezeway

PROPERTY NEEDS

  • Cosmetic updates, if desired

 

Please click HERE for more pictures and information.

Price:
$925,000
Address:
Gilford Rd & Yonge St
Innisfil, ON
Square Feet:
1064
Lot Size:
100 ft x 200 ft
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Duplex
Year Built:
1968
Basement:
Finished

Call (647) 400-2093 for more details

Property Location