Looking for a unique property investment? This certainly fits the bill
The federal government has listed an interesting property for sale: The former Hells Angels clubhouse in Toronto.
“It reminded me of a Legion Hall,” Toronto realtor Desmond Brown told the Toronto Star. “I thought it was a fantastic opportunity because it’s such a renowned building — people have been driving by it for decades, wondering what it looks like on the inside. I’m one of the few people who isn’t biker, who had a chance to see it.”
The property boasts 2,500 square feet, stains throughout, and a possibly leaky roof.
It sits on a 30-by-120 foot lot in the ever-gentrifying Leslieville neighbourhood.
Ottawa seized the property from the notorious motorcycle club. It’s considered the largest Angels clubhouse in Canada.
The listing is expected to hit MLS in the coming weeks.
Real estate agents have compared the property to similar offerings, and have evaluated it around $700,000.
For tax purposes, it’s been assessed at $371,000.
However, its history could impact pricing, and one lucky investor could find a gem in the former hangout.
And, either way, investing in Toronto real estate has traditionally led to lucrative gains for buyers.