!!FIRST POSITION 75% VTB @ 0%!! Deeply Discounted Custom-Built Bungalow On Over 1/2 Acre Lot In Binbrook (20 Min To Downtown Hamilton)!! Available

  • $1,500,000
  • 7 beds
  • 5 baths
  • 6697 sqft
Behold this mammoth, custom-built, all-brick, executive-style home, which was constructed in 1990 and offers more than 6,500 square feet with its fully finished, above-grade “basement” with in-law suite functionality!! Approach this luxurious property by driving up the horseshoe driveway and, while marvelling at the towering Palladian windows, station your vehicle somewhere along the long driveway or within the large, 3-car, attached garage. This is a 100 x 250 ft lot that backs onto forest and boasts 3 balconies which overlook the vast foliage. The basement features 2 walk-outs and the main floor’s master bedroom features an office, fireplace den, and a full, ensuite bathroom. Overall, this opulent property still needs some TLC, but the opportunity for forced appreciation is highly achievable!! This is an excellent way for an Investor to buy a prestigious property at affordable financing, and resell before the interest costs kick in. Alternatively, if the Investor falls in love and wants to hold, this VTB allows them the time to renovate and refinance with a traditional bank at a lower rate!! Creative financing on a pricier asset helps a flipper make sense of their numbers!!!

We are selling our assignable purchase contract.

Closing is January 17th, 2022
**Please note: This purchase includes a first position 75% VTB mortgage open at 12 months @ 0% interest for the first 6 months. That’s about $40,000-60,000 less in typical private financing costs, plus NO lender fee, which is usually 2% of the principal. That’s up to $80,000 in savings!! The rest of the VTB provisions are to be negotiated after assignment and the Buyer’s accepted offer will be conditional on this final negotiation. However, the basic terms, such as maturity date and rate, will remain as described above.**

PROPERTY FEATURES
  • 4+3 bedrooms
    • Master bedroom on the main floor features balcony access, a 4-piece ensuite, walk-in closet, a fireplace with a sitting area, as well as an attached office space
  • 5 bathrooms
    • 2-piece bathroom located on the main floor
    • 4-piece bathroom located on the main floor
    • 4-piece master ensuite
    • 3-piece bathroom located in the basement, with a large tub
    • Additional 3-piece bathroom located in the basement, with a standing shower
  • Built in 1990
  • Total living space: 6697 sq ft
  • Above grade: 3224 sq ft (as per MPAC)
  • Basement: 3473 sq ft (as per MPAC)
    • We believe that the additional square footage is due to the 2 cold rooms located in the basement (Buyer to verify)
    • Full kitchen with an eat-in area
    • 2 separate stairwells leading down to the basement
    • 2 separate walk-outs
    • 2 cold rooms
  • All appliances, except for the basement freezer and hot tub will be included
  • All useable flooring materials will remain on site, and will also be included
  • Upstairs includes sitting room, dining room, family room, breakfast nook, and 3 full bedrooms + office
  • Kitchen has quartz countertops, skylight, white cabinets, and leads into a breakfast nook and further out onto a balcony overlooking the backyard
  • Balcony/deck access from the master bedroom, office, laundry room, and kitchen area (5 doorways total on main floor!)
  • Main floor laundry
  • 2 breaker panels:
    • 100 AMP breaker panel
    • 200 AMP breaker panel
  • 2 gas furnaces are both approximately 13-15 years-old (as per Seller)
  • HWT is rented (as per Seller)
  • Central AC is owned (as per Seller)
  • R/O system is located in the kitchen, and is owned (as per Seller)
  • Water purification, dual water softeners, and iron filter are located in the basement, and are all owned (as per Seller)
  • Palladian windows and vinyl windows are in good condition (as per Seller)
  • Roof is approximately 12-years-old (as per Seller)
  • Drilled well (as per Seller)
  • Septic
  • Brick exterior
  • 3-car, attached garage with in-house access (720 sq ft, as per MPAC)
    • Garage also features:
      • Hydro
      • 4 automatic doors, including 1 for a smaller garage door which opens out into the backyard, down a gravel path
  • Ample parking for multiple cars in the horseshoe-shaped driveway
  • Lot size: 100 ft x 250 ft (as per MPAC)
  • Site area: 0.57 A (as per MPAC)
  • Zoning: A1 (as per MPAC)

PROPERTY NEEDS

  • Cosmetic updating

 

Please click HERE for more pictures and information.

Price:
$1,500,000
Address:
Trinity Church Rd & Airport Rd
Binbrook, ON
Square Feet:
6697
Lot Size:
100 ft x 250 ft
Bedrooms:
7
Bathrooms:
5
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1990
Basement:
Finished

Call (647) 400-2093 for more details

Property Location