Deeply Discounted Legal Duplex Flip or Rental In Cambridge!! Assigned

  • $425,000
  • 3 beds
  • 2 baths
  • 1842 sqft
Assigned

 

This legal duplex is priced incredibly for the Cambridge area, and is the perfect opportunity for any ambitious Investor. On a 50 ft x 120 ft lot, with laneway access and tons of parking, this fully detached 2-storey is located in East Galt along Grand River, and is within walking distance to Dundas St N and Water St N, where all your essentials are easily accessed. This property boasts 1,900 square feet, with a 1 bedroom unit upstairs and a 2 bedroom unit on the main floor. Built in 1870, this property is in need of a large renovation inside and out. However, this property is an unfailing investment, and is begging to be brought up to its highest and best use. Don’t miss out!!

We are selling our assignable purchase contract.

Closing is July 8th, 2021
**The upstairs unit in this property is currently tenant-occupied (month-to-month). As per our APS, the Seller has agreed to provide vacancy and immediate possession to Buyer.**

PROPERTY FEATURES
  • 3 bedrooms
    • 2 bedrooms on the main floor 
    • 1 bedroom upstairs
  • 2 full bathrooms
    • 4-piece bathroom on the main floor
    • 4-piece bathroom upstairs
  • Built in 1870
  • Above grade: 1842 sq ft (as per MPAC)
    • First floor: 1127 sq ft
      • Kitchen and bathroom on main floor are both part of an addition that was added on, and make up the extra 400 sq ft on this floor
    • Second floor: 715 sq ft
  • Partially finished basement: 1127 sq ft (as per MPAC)
    • Basement is not an additional unit, and does not have the ceiling height to be converted into an additional unit (exact ceiling height is unknown, Buyer to verify)
    • Has a walk-up entrance, however it is currently not in use as the door does not open
    • Part of the basement foundation was dug out for unknown reasons by a previous owner, possibly to remove or disconnect an old sewer pipe (as per Seller)
  • Separate entrances:
    • Front door leads to upstairs unit
    • Side door leads to main floor unit
    • Basement has a walk-up entrance (currently not in use)
    • There is a door leading to the main floor unit from the main stairwell, however that has been sealed shut
  • Lathe & plaster walls throughout the majority of the house (as per Seller)
  • All appliances will be included, including the brand new freezer in the kitchen
  • Gas washer & dryer in the basement will also be included
  • 100 AMP breaker panel
    • There are no visible signs of knob & tube, though we suspect there could be some in the wall cavities due to our electrical test (see HERE and HERE) — Buyer to verify
  • Furnace, AC, and water softener are all rented, and are less than a-year-old (will all be paid out upon closing, as per the APS)
  • HWT is rented, age unknown (as per Seller) — this rental will be assumed by the Buyer upon closing
  • Hydro is not separately metered (as per Seller)
  • On municipal services
  • Vinyl windows upstairs are 12-years-old, and the wood windows downstairs are unknown age (as per Seller)
  • Main roof shingles were updated 1-year-ago, however the back roof shingles are approximately 10-years-old (as per Seller)
  • Backyard features walk-out deck and garden bed
  • Main house is stucco exterior and the addition has a siding exterior
  • 2-car, detached garage with automatic door, was originally built with concrete blocks in 1870 (402 sq ft, as per MPAC)
  • Parking for 1-2 cars on private driveway (located at the front of the house)
  • Additional 3-4 car parking on driveway near the garage (located at the back of the property)
  • Lot size: 50 ft x 120 ft (as per MPAC)
  • Zoning: R4 (as per MPAC)
    • A “detached duplex dwelling” (defined HERE, pg. 30), such as this one, is not legally permitted in the R4 zone for the City of Cambridge (see HERE, pg. 110)
    • We believe that an “accessory dwelling unit” may be allowed once Bill-108 is enacted across Ontario — Buyer to verify

UNIT BREAKDOWN
Upper Unit

  • 1 bedroom
  • 1 full bathroom
  • Kitchen and living areas

Lower Unit

  • 2 bedrooms
  • 1 full bathroom
  • Kitchen and living areas
  • Access to the basement

PROPERTY NEEDS

  • Cosmetic updating

 

Please click HERE for more pictures and information.

Price:
$425,000
Address:
Roseview Ave & Oxford St
Cambridge, ON
Square Feet:
1842
Lot Size:
50 ft x 120 ft
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1870
Basement:
Partially finished

Call (647) 400-2093 for more details

Property Location