A complex comprising two 8-unit brick buildings located in the Mont-Bellevue area of Sherbrooke. Close to the Université de Sherbrooke, a park, shops, and public transit. Each building consists of seven 4½-room units and one 2½-room unit, for a total of 16 apartments. Owned by the same owner since 2011 and meticulously maintained. The roofs were replaced in 2016, and energy costs are covered by the owner. Ideal for an alternative MLI Select EE financing.
Close to Mont-Bellevue Park, the Université de Sherbrooke, and public transit.
Quality tenants and well-maintained properties.
Option to acquire these two buildings as part of a portfolio of five 8-unit buildings located nearby.
Most units renovated over the years (kitchens, flooring, and bathrooms).
Roofs redone in 2016.
Doors and windows replaced in 2015 (1684) and 2011 (1686).
Oil-fired boiler installed around 2016 (1684).
Fiberglass balconies installed in 2015.
Significant optimization potential.
The sale is made without legal warranty of quality, at the buyer's risk and peril.
| Cadastral number | 2 130 830 - 2 130 832 |
| Total Municipal Assessment | 1 359 500 $ |
| Municipal Land Assessment | 409 500 $ |
| Municipal Building Assessment | 950 000 $ |
| Number of Storeys | 3 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1973-1972 |
| Fire System | Smoke detectors |
| Type of Parking | Outdoor |
| Number of Parking Spaces | 16 |
| Land Surface Area | 19 490 sq ft |
| Laundry Room | N/A |
| Number of Rooms | 60 |
| Number of Units | 14 x 4½ + 2 x 2½ |
| Washer/Dryer Inlet | Yes |
| Appliance Responsibility | Tenant |
| Heating Responsibility | Owner |
| Hot Water Responsibility | Owner |
| Central vaccum | |
| Fenced | Yes, in the back |
| Internet and Telecom | N/A |
| Plumbing | ABS / PEX / Copper |
| Condition of Roof | Elastomeric membrane - 2016 |
| Condition of Doors | Good condition - Around 2011 & 2015 |
| Condition of Balconies | Fiberglass - Around 2015 |
| Concierge Agreement | To be verified |
| Intercom and Doorbell | Yes |
| Heating System | Electric baseboards |
| Hot Water System | Independent tanks |
| Condition of Windows | Good condition - Around 2011 & 2015 |
| Condition of Kitchens | The majority have been renovated over the last 15 years. |
| Electrical Panels | Circuit breakers |
| Exterior Siding | Brick |
| Condition of Bathrooms | All renovated over the past 15 years. |
| Environmental Report | Yes, Phase I and Phase II available |
| Floor Covering | Floating / ceramic / vinyl |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $176,328 | 100 % | $918 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $176,328 | $918 | |
| Vac. / Bad debt | $5,290 | 3 % | $28 |
| EGR | $171,038 | $891 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $8,552 | 5 % | $534 |
| Municipal Taxes | Current | $18,561 | 10.9 % | $1,160 |
| School Taxes | Current | $928 | 0.5 % | $58 |
| Insurance | Current | $4,850 | 2.8 % | $303 |
| Electricity | Current | $10,388 | 6.1 % | $649 |
| Heating | Current | $3,559 | 2.1 % | $222 |
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Estimated | $4,000 | 2.3 % | $250 |
| Maintenance | Normalised | $11,200 | 6.5 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $1,710 | 1 % | $107 |
| Total expenses | $63,748 | 37.3 % | $3,984 | |
| Net Revenue | $107,290 | $6,706 |
| Maximum loan amount | $1,538,979 | $1,818,792 | $1,229,814 |
| Financing CAP | 5.93 % | 5.01 % | 6.54 % |
| Debt coverage ratio | 1.3 | 1.1 | 1.25 |
| Interest Rate | 4.5 % | 4.5 % | 5.0 % |
| Amortization | 40 Years | 40 Years | 25 Years |
| Term | 5 Years | 5 Years | 5 Years |
| Net Revenue | $107,290 | $107,290 | $107,290 |
| Annual Mortgage Cost | $87,694 | $103,020 | $85,832 |
| Net cash after mortgage | $19,596 | $4,270 | $21,458 |
| RETURN ON INVESTMENT | |||
| Down Payment | $1,071,021 | $791,208 | $1,380,186 |
| Cash on cash return | 1.8 % | 0.5 % | 1.6 % |
| Return on liquidity + capitalization | 3.2 % | 2.8 % | 3.4 % |
| Total yearly return with appreciation of 2 % | 8.11 % | 9.38 % | 7.19 % |
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