Location, location, location! Wow! Six units in the heart of downtown Hull (Gatineau), only 5 minutes from Ottawa and government buildings! This income property offers exceptional profitability with a cap rate of 5.45%, a gross income multiplier (GIM) of 13.8 and a net income multiplier (NIM) of 18.3. Located in a highly sought-after rental sector, all essential services are within walking distance. All with great optimization potential! Make your offer now!
6-unit income property.
Well-maintained by the seller.
Possibility of assuming the mortgage at a good interest rate, information on request from the buyer.
Complete renovation of the common areas in the basement, new rear staircase and balcony, replacement of 5 windows, addition of a rear emergency exit door, as well as renovation in each of the apartments including 2 apartments completely renovated.
This sale is made without legal warranty of quality, at the buyer's risk.
Mortgage Assumption Information: Mortgage with APH Select at $1.17M, 50-year amortization, 4.17% interest rate, non-recourse, July 2028 maturity. The mortgage can be assumed if approved by the lender.
| Cadastral number | 1 621 438 |
| Total Municipal Assessment | 668 200 $ |
| Municipal Land Assessment | 485 600 $ |
| Municipal Building Assessment | 182 600 $ |
| Number of Storeys | 2 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1920 |
| Fire System | Yes |
| Type of Parking | Exterior |
| Number of Parking Spaces | 11 spaces |
| Land Surface Area | 6 554 sq. ft. |
| Laundry Room | Yes, 1 washer and 2 dryer |
| Washer/Dryer Inlet | Apt.F : Washer, dryer |
| Appliance Responsibility | Tenant |
| Heating Responsibility | Tenant |
| Hot Water Responsibility | Owner |
| Plumbing | Good condition |
| Condition of Roof | Asphalt shingles, Sheet metal |
| Condition of Doors | Normal |
| Condition of Balconies | Good condition (Wood) |
| Concierge Agreement | Yes |
| Intercom and Doorbell | No |
| Heating System | Electric baseboards |
| Hot Water System | Independant tanks |
| Condition of Windows | Wood and PVC, Sliding, Guillotine, Crank handle |
| Condition of Kitchens | Good condition (Melamine, Thermoplastic) |
| Electrical Panels | Circuit breakers |
| Exterior Siding | Brick |
| Condition of Bathrooms | Good condition |
| Environmental Report | Yes |
| Floor Covering | Hardwood, ceramic and laminate flooring |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $107,496 | 87.8 % | $1,493 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | $14,880 | 12.2 % | $207 |
| Laundry | |||
| Total revenues | $122,376 | $1,700 | |
| Vac. / Bad debt | $3,671 | 3 % | $51 |
| EGR | $118,705 | $1,649 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $5,342 | 4.5 % | $890 |
| Municipal Taxes | Current | $7,252 | 6.1 % | $1,209 |
| School Taxes | Current | $508 | 0.4 % | $85 |
| Insurance | Current | $7,908 | 6.7 % | $1,318 |
| Electricity | Current | $3,282 | 2.8 % | $547 |
| Heating | ||||
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $1,500 | 1.3 % | $250 |
| Maintenance | Normalised | $4,200 | 3.5 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $1,187 | 1 % | $198 |
| Total expenses | $31,179 | 26.3 % | $5,196 | |
| Net Revenue | $87,526 | $14,588 |
| Maximum loan amount | $1,180,213 |
| Financing CAP | |
| Debt coverage ratio | |
| Interest Rate | 4.17 % |
| Amortization | 50 Years |
| Term | 5 Years |
| Net Revenue | $87,526 |
| Annual Mortgage Cost | $64,056 |
| Net cash after mortgage | $23,470 |
| RETURN ON INVESTMENT | |
| Down Payment | $359,787 |
| Cash on cash return | 6.5 % |
| Return on liquidity + capitalization | 8.8 % |
| Total yearly return with appreciation of 2 % | 17.32 % |
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