Unique Detached Residential/Commercial Flip or Buy-and-Hold Opportunity in Mission!! Assigned

  • $449,000
  • 2 beds
  • 1 baths
  • 1000 sqft
Assigned

This unique, detached property in Mission’s Hatzic neighborhood is now available for $75,000 below market value!! Located on Lougheed Highway, this 2 bedroom, 1 bathroom, single-storey property can function as either a retail or residential property. While this property is in need of cosmetic renovations, it makes for an excellent investment opportunity. Savvy Investors can buy-and-hold as a rental, or renovate and flip for major profits on the market. Don’t miss this unicorn of a property in Mission!!

We are selling our assignable purchase contract.

Closing is February 10th, 2022

PROPERTY FEATURES
Please note: BC Assessment describes the property as “1 STY house – Basic” but we think the property has the appearance of a square commercial building rather than a house.
  • Detached, single-storey
  • 2 bedrooms
  • 3-piece bathroom with stand up shower
    • Bathroom ceiling appears to have condensation damage (see HERE)
  • Built in 1918 (as per BC Assessment)
  • Interior square footage: 732 sq ft (as per BC Assessment)
    • Previous owner built an extension which increased the interior to approximately 1000 sq ft (Buyer to verify) 
  • Property is built on a crawl space (height unknown)
  • Front door of property leads to the front room
    • This room could be utilized as a retail space (Buyer to verify)
  • Fridge, stove, dishwasher, washer & dryer will all be included
  • Kitchen is currently unfinished, and is missing both countertops and flooring
  • Extension was built at the rear of the property, which extended the living area and the second bedroom
  • Flooring: hardwood and laminate
  • 200 AMP breaker panel
  • Electric baseboard heating
  • HWT was replaced in 2016 (as per Seller)
  • Windows are an unknown age (as per Seller)
    • 2 front windows are older single-pane while the remainder of the windows appear to be vinyl, double-pane (Buyer to verify)
  • Roof is tar and gravel, exact age is unknown (as per Seller)
  • Exterior of the building is stucco, and the exterior of the extension is wood shingle siding
  • On municipal water
  • Seller is not able to verify if the property is on municipal sewer
    • Our Acquisition Rep found no evidence of a septic tank on the property. We believe that, given the location and the size of the lot, that this property is likely on municipal sewer (Buyer to verify)
  • Large wooden gate on the east side of the property
  • Fenced backyard at the rear of the property
  • Portion of the backyard is elevated, and is a few feet higher than the main building on the property
  • Hot tub in the backyard is functional, but requires cleaning
    • Electricity to the hot tub has been disconnected, but can easily be reconnected (as per Seller)
  • Backyard features a large shed/garage that is currently used for storage
    • Shed/garage has been wired for electricity, but the power was disconnected (as per Seller)
    • Shed/garage was previously utilized as a legal marijuana grow operation by the Seller in 2014. The Seller has provided a copy of the government paperwork permitting the operation (see permit HERE)
  • Parking for 4 vehicles 
    • 1 parking spot located at the front of the property
    • 3 parking spots located on the east side of the property
  • Lot size: 3230 sq ft (as per BC Assessment)
  • Zoning: NC1 Neighborhood Centre One (as per THIS interactive zoning map)
    • There are many permitted uses for this property, they include but are not limited to: Restaurant (Major), and Child Care Centre, and Office (General Use), and Office (Medical Office), Barbershop, Body Art and Tattoo Parlor, Drycleaner, Hair and Body Salon, Spa, Cannabis Retail Store, Liquor Store, Food Store, Pharmacy, Animal Daycare, Beverage Container Return Centre, Drive-through Service, Financial Services, Veterinary Clinic (see HERE)
PROPERTY NEEDS
  • Cosmetic updating
  • Landscaping

 

Please click HERE for more pictures and information.

Price:
$449,000
Address:
Lougheed Hwy & Dewdney Trunk Rd
Mission, BC
Square Feet:
1000
Lot Size:
3230 sq ft
Bedrooms:
2
Bathrooms:
1
Terms:
Assignment of Contract
Property Type:
Other
Year Built:
1918

Call 647-370-0820 for more details

Property Location