Are you ready to accept a stigmatized property? All the previous investment properties we introduced in our series were ready to go. This house on 17 Sherwood View NW is a bit special, though. It requires a skilled handyman or an investor to work on it, since it’s a former marijuana grow-op. The house requires remediation and approval of air quality testing that must be approved by Alberta Health Services before you can live in the property.
If you’re ready to accept these conditions, you have an excellent deal. The two-storey house is located on a quiet cul-de-sac in the newer community of Sherwood. It features a spacious bonus room with vaulted ceilings, three spacious bedrooms — including the master retreat that boasts double entrance doors, a walk-in closet, and a four-piece ensuite bathroom. The kitchen is open to the living room, which is enhanced with a gas fireplace. The flex room would be ideal as a den or formal dining room. The overall floor space reaches 187sqm.
The house was built in 2006, so the only investments needed are those to remove the consequences of the grow-op, with estimated costs of $60,000. Add the asking price of $337,000 and you have a house that is $50,000 less expensive than similar properties in the area. The stigma will disappear after a year or two, but the savings won’t!