| This 1,500+ square foot, 2.5-storey property located in Hamilton’s Blakeley neighbourhood, is situated at the base of theThis 1,500+ square foot, 2.5-storey property located in Hamilton’s Blakeley neighbourhood, is situated at the base of the Niagara Escarpment and overlooks the Mountain from the 2nd storey!! This 2.5-storey is currently being utilized as a non-conforming duplex; fully rented, to 2 paying, month-to-month tenants (as per Seller), with 2 exterior entrances to each unit (a fire escape in the backyard leads up to 2nd unit). This house is just a short walk to downtown Main St, Gage Park, Sherman Access (to The Mountain), and Rosedale Tennis Club. Conveniently located and filled to the brim with opportunity for any serious Investors, you will not want to miss out on this golden opportunity in Blakeley!!
We are selling our assignable purchase contract.
Closing is September 8th, 2021
**Please Read the Tenant Clauses Below**
**Please note, this property is tenant-occupied with a total rent of $1,750/month (utilities included). In order to attain vacancy of the premises, the Buyer will need to bargain for vacancy. Seller has contractually agreed to sign any LTB termination forms and provide the tenant’s contact information to the Buyer. The Seller believes that the Main Floor Tenant will terminate their lease, especially if compensated and given fair notice. The Seller believes that the 2nd Floor Tenant is more uncertain/difficult but could be receptive to cash for keys with proper notice. If one or both tenants refuse to terminate the tenancy and the Buyer is forced to assume any tenants, a purchase price reduction of $40,000 will be given to the Buyer on closing. The Buyer will only earn the predetermined price reduction in a worst case scenario, i.e. if the tenant(s) refuse to leave or will only leave on unreasonable demands. Only Buyers who are willing to assume 1 or both tenants at said price reduction should submit offers on this property as Buyer will be obligated to close with or without vacancy of the property.**
**As per our APS, the Seller agrees that the Buyer may communicate with the tenants in the property and that the Buyer may negotiate a cash for keys settlement at the Buyer’s sole expense. The Seller agrees to sign any Landlord-Tenant forms prior to closing required by the Buyer to gain vacancy of the property on or before closing but cannot promise that the tenants will do the same. If the Buyer is unable to get signed N11s or any LTB termination forms with the tenants in the subject property, the Buyer and Seller agree to reduce the purchase price to $560,000 and, upon doing so, this transaction will proceed to close on the completion date and all other terms shall remain valid.** |
