By the time you include RE fees and LTT and other selling expenses not exactly a great money maker.
BUILT Ironworks Uses: condo, commercial Address: 515 Chatham Street Municipality: Victoria Region: Downtown Victoria Storeys: 5 Condo units: (studio/bachelor, 1BR) Sales status: sold out / resales only |
Ironworks is a mixed-use two-building, five-storey condominium and ground floor commercial development in down... (view full profile)
Learn more about Ironworks on Citified.ca
Learn more about Ironworks on Citified.ca
[Downtown Victoria] The IronWorks | Condos; retail | 5 & 5-storeys | Under construction
Started by
Mike K.
, Dec 30 2016 01:18 PM
641 replies to this topic
#641
Posted 22 February 2023 - 08:32 AM
#642
Posted 22 February 2023 - 08:53 AM
It’ll do alright if it sells for around asking. It should net the seller $20-$30k, depending on how much equity they have created via mortgage payments over two years, which at 2021 interest rates would have been one with more capital paid than interest. The agents will split about $15,000.
If it’s an investment potentially all of the mortgage and other expenses were covered by a renter, but they’ll have to offset capital gains.
If it’s an investment potentially all of the mortgage and other expenses were covered by a renter, but they’ll have to offset capital gains.
Know it all.
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