Great investment opportunity!
Semi-commercial property featuring a 4 ½ apartment and a garage, both currently leased with two-year agreements in place, generating strong rental income.
The garage has undergone significant improvements, providing a modern, functional, and well-designed space.
Ideal for an investor or an owner-occupant looking to combine personal use with rental income.
Exceptional location just a short walk from downtown Cowansville, offering easy access to shops, restaurants, schools, parks, and essential services
Energy costs are the responsibility of the tenants
Groundfloor bathroom
Approximately $100,000 invested in the garage
Residential roof redone in 2024
Breaker panel replaced
Garage equipment owned by the seller
Without legal warranty, at the buyer’s risk and peril.
The tenant pays the landlord a monthly fee for internet and telecommunications services.
| Cadastral number | 3 357 897 |
| Total Municipal Assessment | 333 500 $ |
| Municipal Land Assessment | 108 700 $ |
| Municipal Building Assessment | 224 800 $ |
| Number of Storeys | 2 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1900 |
| Detached garage offering 1,502 sq. ft., including: New section: 36 ft × 24 ft (864 sq. ft.) Existing section: 29 ft × 22 ft (638 sq. ft.) | |
| Fire System | N/A |
| Type of Parking | Exterior |
| Number of Parking Spaces | 4 spaces |
| Land Surface Area | 8,734 sq. ft. |
| Laundry Room | N/A |
| Number of Rooms | 4 1/2 |
| Number of Units | 2 |
| Washer/Dryer Inlet | Yes, in the residential unit |
| Appliance Responsibility | At the tenant’s expense |
| Heating Responsibility | At the tenant’s expense |
| Hot Water Responsibility | At the tenant’s expense |
| Fenced | Partially fenced |
| Internet and Telecom | At the tenant’s expense |
| Plumbing | ABS |
| Condition of Roof | Redone in 2024 for the residential unit (excluding the balcony roof). |
| Condition of Doors | Original door from the 1900s |
| Condition of Balconies | Wood |
| Concierge Agreement | N/A |
| Intercom and Doorbell | N/A |
| Heating System | Electric baseboard heaters |
| Hot Water System | Separate tanks |
| Condition of Windows | Windows dating from around 1900 |
| Condition of Kitchens | Good |
| Electrical Panels | Breaker panel |
| Exterior Siding | Vinyl |
| Condition of Bathrooms | Redone on the ground floor (only one of the two) |
| Environmental Report | None |
| Floor Covering | Floating floor on the second floor |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $18,000 | 35.5 % | $750 |
| Affordable res. | |||
| Commercial | $30,000 | 59.2 % | $1,250 |
| Lockers | |||
| Parking | |||
| Laundry | |||
| Refacturation internet & cable | $2,640 | 5.2 % | $110 |
| Other revenues | |||
| Total revenues | $50,640 | $2,110 | |
| Vac. / Bad debt | $1,519 | 3 % | $63 |
| EGR | $49,121 | $2,047 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $2,210 | 4.5 % | $1,105 |
| Municipal Taxes | Current | $4,789 | 9.7 % | $2,395 |
| School Taxes | Current | $225 | 0.5 % | $113 |
| Insurance | Current | $6,000 | 12.2 % | $3,000 |
| Electricity | ||||
| Heating | ||||
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $500 | 1 % | $250 |
| Maintenance | Normalised | $1,400 | 2.9 % | $700 |
| Appliances | ||||
| WiFi | Current | $1,270 | 2.6 % | $635 |
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $491 | 1 % | $246 |
| Total expenses | $16,886 | 34.4 % | $8,443 | |
| Net Revenue | $32,235 | $16,118 |
| conv | |
|---|---|
| Maximum loan amount | $343,829 |
| Financing CAP | 7.03 % |
| Debt coverage ratio | 1.25 |
| Interest Rate | 5.75 % |
| Amortization | 25 Years |
| Term | 5 Years |
| conv | |
|---|---|
| Net Revenue | $32,235 |
| Annual Mortgage Cost | $25,788 |
| Net cash after mortgage | $6,447 |
| RETURN ON INVESTMENT | |
| Down Payment | $131,171 |
| Cash on cash return | 4.9 % |
| Return on liquidity + capitalization | 9.8 % |
| Total yearly return with appreciation of 2 % | 17.05 % |
To see the detailed rent rolls of this building, you need to be connected.
