Submitted by llangill on Wed, 10/27/2021 - 19:45

8166 THOROLDSTONE ROAD, NIAGARA FALLS, ON

The opportunity here is to create a 2 unit property by adding a lower level suite, that will generate $500 a month in positive cash flow. The upper unit is fully renovated and ready to rent. Start earning cash flow from day 1 while you create the lower unit.

Offered at $674,900, $30,000 below market value!

Beautifully renovated bungalow in north west Niagara Falls. Large 1,000 + square feet with 3 bedrooms, 1 bath with custom eat in kitchen open to the backyard, and stunning separate living room area. Custom finishes include upgraded kitchen, quartz counters and vinyl plank throughout. The property has an oversized lot that backs onto a natural green space for maximum privacy. There is also a large garage with plenty of room for a car and storage.

The basement is not finished and has a separate walk up entrance and is ready to put in an accessory dwelling unit for maximum rent. Alternatively, a separate garden suite can be built in the backyard. Located in a great neighbourhood, close to all amenities.This one is a money maker starting from the appreciate lift by adding the secondary unit and the increased rent it will generate.

Lot size: 65 feet by 155 feet

Opportunities with this Property:

1.Build a 900 sq. Ft. secondary suite in the lower level at approx. cost of $70K with a general contractor or $45K if you do renovations yourself. We expect the after repair value would be $760,000.

2.Build garden suite & unregistered unit in the basement to create three units at the property.

Investor Financials:

Recent Comparable Sale at $705,000 on Sept 23rd, 2021 brick bungalow on similar sized lot.

Please contact:

Meaghan Lazenby Mobile: 289-772-8488 meaghanlazenby@gmail.com

Enza Manduca Mobile: 905-808-5158 enza@manduca.ca

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