Side-By-Side, Legal Duplex w/ 50% VTB in Port Perry (25 Minutes North of Oshawa)!! Assigned

  • $599,999
  • 7 beds
  • 4.5 baths
  • 3373 sqft

This all-brick, side-by-side, legal, non-conforming duplex is a unique purchase for the area. It features two, self-contained units (attached only by a door in the basement) that combine to over 5000 sq ft of living space, with 4, side-by-side, private parking spaces, a private driveway, separate backyards, and split hydro meters. This duplex is situated in a central residential neighbourhood close to schools, grocery stores, restaurants, banks, and Tim Hortons. Excellent buy for a landlord to cashflow in a convenient location. Comparable semis sell in Port Perry for approximately $550,000! Here, you can buy two semis for little more than the price of one!

We are selling our assignable purchase contract.

Closing is October 16th, 2020
**While this Agreement includes tenant occupancy until June 30, 2021, it offers a 3-year, fixed, 30 AM, $298,000 Vender Take-back Mortgage at 3.25% with only principal-only payments required (at no deferred interest) until June 30, 2021. Signed N11s will be given before closing. As per our Agreement, the Buyer’s carrying costs on the VTB will be under $500 until June 30, 2021!! While we haven’t asked about cash-for-keys, the tenants are good and may be open to an earlier settlement at the Buyer’s additional and sole cost. This VTB is conditional on the Buyer being approved by the Mortgagee.**

 

Please click HERE for more information and pictures.

Price:
$599,999
Address:
Rosa St
Port Perry, ON
Square Feet:
3373
Lot Size:
59 ft x 144 ft
Bedrooms:
7
Bathrooms:
4.5
Terms:
Assignment of Contract
Property Type:
Duplex
Year Built:
1900

Additional Features

PROPERTY FEATURES Above grade: 3373 sq ft Basement: 1769 sq ft Built in 1900 (no visible signs of connected knob & tube) Newer vinyl windows in house Property has one water main and one sewage line All municipal services. No well and septic! 2 separate hydro meters 2 separate breaker panels 2 rented, electric hot water tanks (1 tank per unit) Landlord pays for the water heater rentals Roof is in excellent condition 4 side-by-side, private parking spaces at front of house Full, private driveway may be an additional income source for an investor Property tax (2020) is approximately $4,000 Lot size: 59 ft x 144 ft Zoning: R1 UNIT BREAKDOWN (Landlord pays all utilities in her name, but bills back hydro to the tenants.) Unit 1: 4 bedrooms 2.5 bathrooms Approximately 2100 sq ft Basement is unfinished Electric radiant heating Wall-unit air conditioning Tenants are on a month-to-month lease and pay $1,200/month (below market) Unit 2: 2+1 bedrooms 2 bathrooms Approximately 1200 sq ft Basement is finished Electric baseboard heating Tenants are on a month-to-month lease and pay $1,100/month (below market) PROPERTY NEEDS Minor cosmetic updating in Unit 1 Full cosmetic updating in Unit 2 Upgrade breakers in Unit 2 Option to add gas services from the street (there is gas at the road but it has not been brought to the house)

Call (647) 400-2093 for more details

Property Location