27 units located at 11815 Ranger in Ahuntsic-Cartierville. This property consists of 4 x 5.5, 12 x 4.5, 10 x 3.5 and 1 x 1.5. Many of units have been renovated as well as a good part of the plumbing. The property is situated in a location with very strong rental demand, allowing the property to be fully occupied. The heating and hot system is a gas furnace at the owner's expense. The building is well located within walking distance of both the new REM station, grocery stores, the YMCA, as well as schools and daycares, providing great convenience for the residents.
Large spacious units
Well located within walking distance of most services, amenities, schools and parks.
Many units already renovated easing management and capital costs.
Possibility of optimization of revenues and expenses
Many apartments including kitchen and bathrooms
Large portion of plumbing
There is a mortgage to assume:
Approximate loan amount: 4,436,000$ | Interest rate: 4.30 % | Monthly payment: 19,272$ | Amortization : 40 years | Term: December 1st 2028
The sale is made without any legal warranty of quality, at the buyer’s own risk.
| Cadastral number | 1435414 |
| Total Municipal Assessment | $ 3 791 900 |
| Municipal Land Assessment | $ 560 600 |
| Municipal Building Assessment | $ 3 231 300 |
| Number of Storeys | 3 |
| Type of Building | Semi-detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1962 |
| Type of Parking | None |
| Number of Parking Spaces | None |
| Land Surface Area | 9 284 pi2 |
| Laundry Room | Yes - Leased from Coinamatic |
| Number of Units | 27 |
| Washer/Dryer Inlet | Yes common areas + 1 unit |
| Appliance Responsibility | 26 to landlord |
| Heating Responsibility | Landlord - gas |
| Hot Water Responsibility | Landlord - gas |
| This sale is made without legal warranty of quality, at the buyer’s risk. | |
| Plumbing | A large part of the plumbing has been updated |
| Condition of Roof | Elastomeric membrane |
| Condition of Doors | Acceptable |
| Condition of Balconies | Acceptable |
| Concierge Agreement | None |
| Intercom and Doorbell | Yes |
| Heating System | Natural gas |
| Hot Water System | Natural gas |
| Condition of Windows | Aluminum |
| Condition of Kitchens | Approximately 15 units have been renovated. |
| Electrical Panels | Circuit breakers |
| Exterior Siding | Brick |
| Condition of Bathrooms | Several renovated. |
| Environmental Report | Yes, 2-3 years old |
| Floor Covering | Hardwood, vinyl, and ceramic floors. |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $424,272 | 99.3 % | $1,309 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | $3,000 | 0.7 % | $9 |
| Other revenues | |||
| Total revenues | $427,272 | $1,319 | |
| Vac. / Bad debt | $12,818 | 3 % | $40 |
| EGR | $414,454 | $1,279 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $20,723 | 5 % | $768 |
| Municipal Taxes | Current | $21,477 | 5.2 % | $795 |
| School Taxes | Current | $2,589 | 0.6 % | $96 |
| Insurance | Current | $15,890 | 3.8 % | $589 |
| Electricity | Current | $1,437 | 0.3 % | $53 |
| Heating | Current | $18,798 | 4.5 % | $696 |
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Current | $9,855 | 2.4 % | $365 |
| Maintenance | Current | $16,470 | 4 % | $610 |
| Appliances | Current | $3,240 | 0.8 % | $120 |
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $4,145 | 1 % | $154 |
| Coinamatic | Current | $890 | 0.2 % | $33 |
| Total expenses | $115,513 | 27.9 % | $4,278 | |
| Net Revenue | $298,941 | $11,072 |
| Maximum loan amount | $4,318,000 | $5,469,458 |
| Financing CAP | 4.65 % | |
| Debt coverage ratio | 1.1 | |
| Interest Rate | 4.3 % | 3.97 % |
| Amortization | 40 Years | 40 Years |
| Term | 5 Years | 5 Years |
| Net Revenue | $298,941 | $298,941 |
| Annual Mortgage Cost | $231,264 | $286,885 |
| Net cash after mortgage | $67,677 | $12,055 |
| RETURN ON INVESTMENT | ||
| Down Payment | $2,477,000 | $1,325,542 |
| Cash on cash return | 2.7 % | 0.9 % |
| Return on liquidity + capitalization | 4.6 % | 5.5 % |
| Total yearly return with appreciation of 2 % | 10.11 % | 15.74 % |
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