Basics
- Date added: Added 2 years ago
- Category: British Columbia
- Bedrooms: 6
- Bathrooms: 2
- Area: 3410 sq ft
- Lot size: 8712 sq ft
- Year built: 1969
Description
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Description:
Unlock the potential of this rare find – a full side-by-side duplex offering not just one, but two homes at the price of one! Nestled in Chilliwack, each side boasts 3 bedrooms, 1 bathroom, and a spacious 1705 interior sq ft (as per BC Assessment). The property, vacant for the last 2 years, awaits a savvy Investor to transform it into a lucrative venture. We see a number of ways to profit from this duplex:
1. Sell As-Is: A straightforward option for quick returns.
2. Renovate and Rent: Transform the duplex into a 2-unit rental, securing a steady income stream.
3. Renovate and Sell: Renovate and capitalize on the demand for duplexes in the market.
4. Subdivide and Sell: Investigate the potential for subdivision and sell each side as a half duplex.
5. New Build: Demolish and construct a new duplex for the highest potential profit.
This property stands out as only the second duplex among the approximately 150 properties we’ve put under contract since 2021. With both immediate and long-term possibilities, this unicorn property in Chilliwack is an unmissable investment opportunity.We are selling our assignable purchase contract.
Closing is January 11th, 2024
Show all descriptionPROPERTY FEATURES- Full side-by-side duplex
- 6 bedrooms
- 4 bedrooms are located on the main floor
- 2 bedrooms are located in the basement
- 2 full bathrooms
- Built in 1969
- Total interior square footage: 3410 sq ft (as per BC Assessment)
- Each unit has 1705 interior sq ft
- Main floor: 1948 sq ft (as per BC Assessment)
- Each unit has 2 bedrooms, a bathroom, a spacious living room and a kitchen on the main floor
- Basement: 1462 sq ft (as per BC Assessment)
- Each unit has 1 bedroom, a family room and a utility/laundry room in the basement
- Appliances will be left behind on closing but Seller does not know if they are functional
- Flooring: laminate, tile and linoleum
- 70 AMP breaker panel located in each unit
- Hydro going to the property is currently disconnected (as per Seller)
- One unit has a modern furnace while the other looks to be original, age is unknown (Buyer to verify)
- Both units have a modern HWT, age is unknown (Buyer to verify)
- Windows are original, single pane
- Some of the windows are cracked and broken
- Roof is tar and gravel, age is unknown
- Roof and ceiling require repair in one of the main floor bedrooms. In the walkthrough video water was falling through the ceiling. The roof has since been tarped and water is no longer leaking into the bedroom (as per Seller)
- Covered deck is located on the main floor of each unit and is accessible from the kitchen
- Siding is wood and stucco
- Wood fence is located on the back and sides of the property with a grass lawn
- There is a partial fence with a pass thru separating both units
- On municipal water and sewer
- Each unit has an attached garage that used to be a carport
- Each garage has a man-door but no overhead garage door
- Concrete parking is provided for each unit in front of the garage and can fit 2 vehicles
- Annual property tax is approximately $3835.00 – see tax calculator HERE
- Lot size: 8712 sq ft (as per BC Assessment)
- Zoning: R1-B (as per THIS zoning map)
- Principal Use is Duplex – see HERE
UNIT BREAKDOWNUnit 1:- Referred to as “8553” in our walkthrough video
- 3 bedrooms
- 5-piece bathroom
- Black stove
- Kitchen cabinets are missing the upper doors
Unit 2:- Referred to as “8551” in our walkthrough video
- 3 bedrooms
- The 2 upstairs bedrooms have had the wall between them removed
- 4-piece bathroom
- Stainless steel dishwasher, stove and fridge