HOT DEAL!! FAST CLOSE!! Detached Fixer-Upper in Hamilton!! Assigned

  • $299,999
  • 3 beds
  • 1 baths
  • 1148 sqft
Assigned

This detached 1.5-storey is priced at a prime discount in a searingly hot Hamilton real estate market. This property is located in Crown Point West, where a buyer is hard-pressed to purchase any SFD below $350,000 in this area. Downtown King St is at your doorstep, Tim Horton’s Field is a few blocks west, Ottawa St shopping district is nearby, and the owner will inherit 50 feet of frontage that accommodates a full car garage and ample parking space. Deal! Deal! Deal!

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MUST READ
The Buyer is to assume the tenant (4 family members) occupying the property. The tenants have lived in this home for 25 years and are paying $600 per month + gas & hydro (water is included). The Seller states the tenants are up-to-date in their monthly rental payments are not eager to leave. Tenants may be open to a cash for keys scenario, but the Seller cannot confirm and is not an experienced landlord. The Seller also occupies the garage and will need up to 30 days to vacate and remove all garbage. Despite these challenges, we strongly believe this is an opportune situation for a savvy and confident Investor to convert problems into profits: they can cash-for-keys the tenants, acquire vacancy, and in doing so, control a property at a bar-none discount!

Due to the tenant situation and quick close, our Home Buying Rep was unable to personally view and inspect the property. It is very likely access will not be made available up until closing and  the Buyer may not be able to get access for appraisal, etc. As such, only sight unseen offers will be accepted for this deal.

We are selling our assignable purchase contract.

Closing is December 29th, 2020.
**Buyer to organize a lawyer that is available to close this transaction. The Seller and our company have lawyers in place to close on the scheduled date.**

 

Please click HERE for more information.

Price:
$299,999
Address:
Gage & Main
Hamilton, ON
Square Feet:
1148
Lot Size:
50 ft x 40 ft
Bedrooms:
3
Bathrooms:
1
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1910
Basement:
Unfinished

Additional Features

PROPERTY FEATURES 3 bedrooms 1 bathroom Built in 1910 Above grade: 1148 sq ft Unfinished basement: 616 sq ft Basement ceiling is approximate 6 ft (as per Seller) Seller claims basement has some leaks/water penetration Side entrance leads to kitchen and basement Seller suspects knob & tube wiring but is unsure Seller suspects there is outdated plumbing that may need to be replaced Interior walls are made up of lathe, plaster, and wood paneling Gas furnace and HWT are owned (2018, as per Seller) No central AC Vinyl and stucco siding 2-car, detached garage (352 sq ft) 2-3 private parking spaces (side-by-side, not tandem) Lot Size: 50 ft x 40 ft Zoning: TOC3 The Buyer could apply to evict the tenants for a potential conversion (Buyer to verify) This property does NOT come with vacant possession. Tenants included! PROPERTY NEEDS (Upon tenant removal, if possible) Full cosmetic renovation Waterproofing may be recommended Roof and window replacement Update wiring and plumbing

Call (647) 400-2093 for more details

Property Location