Raised Bungalow Flip or Rental with Severability in Lindsay on a Deep Corner Lot!! Assigned

  • $499,999
  • 4 beds
  • 2 baths
  • 1130 sqft

Situated on a deep corner lot (the largest in the neighbourhood!), this detached, 3+1 bed, 2 bath, raised, brick bungalow with a built-in garage is perfect for a flip with the option to sever the property and maximize your profits! Don’t let the dated wallpaper and tile fool you, this is a structurally sound and well maintained property owned by the same family since it was built! With new carpeting added upstairs in 2018 and a 30-year shingle roof installed in 2009, this property is full of space and possibility. Located just off of Line 4, directly across the street from a school and on the same block as Loblaws, Canada Post, restaurants, the Police Station, retail stores and other amenities, you can’t pass up this incredibly convenient location for a rental property! Read below for the many options this property has to offer!!

We are selling our assignable purchase contract.

Closing is February 8th, 2021

WHAT are the options with this property?

Due to the size of this lot and current building placement, this property has many opportunities readily available.

  • Option 1: Flip 
  • Option 2: Add a legal basement apartment*
  • Option 3: Flip and add a coachhouse*
  • Option 4: Sever 1 or 2 lots off the back of this property (we believe this can be divided into 3 lots without a minor variance being required)
  • Option 5: Any combination of the above options (for example, sever off the two lots, keep the main house, and add an accessory suite)

Please click HERE for more information and pictures.

Price:
$499,999
Address:
Angeline St N & Colborne St W
Lindsay, ON
Square Feet:
1130
Lot Size:
80 ft x 180 ft
Bedrooms:
4
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Home
Year Built:
1977
Basement:
Finished

Additional Features

PROPERTY FEATURES 3+1 bedrooms 2 full bathrooms Built in 1977 Above grade: 1130 sq ft (as per MPAC) Basement: 1130 sq ft (as per MPAC) Ceiling height of 7.946 ft in laundry area Ceiling height of 7.136 ft in living area 1 bedroom + den (bedroom is currently being used a workshop) 1 full bathroom Laundry and furnace room Finished living area Windows in basement are above grade Basement living area has a fireplace (not currently functional) Basement has plumbing and electrical to add a separate kitchen if wanted Separate entrance leads from back patio to kitchen Carpeting upstairs and in bedrooms was installed in 2018 (as per Seller) 200 AMP fuse panel Electric furnace (installed in 2001, as per Seller) There is gas at the street and can be brought in HWT is rented (installed 2017, as per Seller) Windows have been painted but not updated Roof last updated in August of 2009 with 30-year shingles (as per Seller) On city services Drilled well in front yard NOT IN USE (done prior to municipal services being an option) Cedar deck in backyard (could use updating) 1-car, attached garage (no access to house from the garage) 2-car driveway Lot size: 80 ft x 180 ft Lot can be severed to create another property The Seller has been approached multiple times by builders to sever the property (as per Seller). The Buyer could sever the lot into three separate lots. The main lot being approximately 80 ft x 80 ft and the other two lots being approximately 50 ft x 80 ft. The Buyer could then flip their own property and either build on or sell off the remaining two lots. Zoning: R2 PROPERTY NEEDS Full cosmetic update Electrical panel should be updated Finish basement or convert to a legal secondary suite

Call (647) 400-2093 for more details

Property Location