Brick 8-unit apartment building located in the Mont-Bellevue area of Sherbrooke. Close to the Université de Sherbrooke, a park, shops, and public transit. The building comprises seven 4½-room units and one 2½-room unit. Owned by the same owner since 2011 and meticulously maintained. The roof was replaced in 2016, and energy costs are covered by the owner. Ideal for alternative financing or MLI Select EE programs.
Close to Mont-Bellevue Park, the Université de Sherbrooke, and public transit.
Quality tenants and well-maintained units.
Option to purchase this building as part of a portfolio of five 8-unit buildings located nearby.
Units renovated over the years, with the exception of the kitchens in units 6, 7, and 8
Roof: 2016
Doors and windows: 2011
Heating: electric furnace (approx. 1990)
Parking: maintained as needed
Balconies: fiberglass, 2015
The sale is made without legal warranty of quality, at the buyer's risk.
Significant potential for optimization.
| Cadastral number | 2 130 832 |
| Total Municipal Assessment | 676 600 $ |
| Municipal Land Assessment | 188 100 $ |
| Municipal Building Assessment | 488 500 $ |
| Number of Storeys | 3 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1972 |
| Fire System | Smoke detectors |
| Type of Parking | Outdoor |
| Number of Parking Spaces | Around 9 spaes |
| Land Surface Area | 8 900 sq.ft |
| Laundry Room | N/A |
| Number of Rooms | 30 |
| Number of Units | 7 x 4½ + 1 x 2½ |
| Washer/Dryer Inlet | Yes |
| Appliance Responsibility | Tenant/Owner #2 (4) |
| Heating Responsibility | Owner |
| Hot Water Responsibility | Owner |
| Central vaccum | |
| Fenced | Yes, at the back |
| Internet and Telecom | N/A |
| Plumbing | ABS / PEX / Copper |
| Condition of Roof | Elastomeric membrane - 2016 |
| Condition of Doors | Good condition - 2011 |
| Condition of Balconies | Fiberglass |
| Concierge Agreement | To be verified |
| Intercom and Doorbell | Yes |
| Heating System | Dual-energy hot water (oil and electricity) |
| Hot Water System | Central tank – Dual-energy (oil and electricity) |
| Condition of Windows | Good condition - 2011 |
| Condition of Kitchens | Good condition, several renovated |
| Electrical Panels | Circuit breakers |
| Exterior Siding | Brick |
| Distance from fire station and hydrant | Nearby |
| Condition of Bathrooms | Good condition, several renovated |
| Environmental Report | Yes |
| Floor Covering | Various |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $85,476 | 100 % | $890 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $85,476 | $890 | |
| Vac. / Bad debt | $2,564 | 3 % | $27 |
| EGR | $82,912 | $864 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $3,731 | 4.5 % | $466 |
| Municipal Taxes | Current | $9,254 | 11.2 % | $1,157 |
| School Taxes | Current | $461 | 0.6 % | $58 |
| Insurance | Current | $2,424 | 2.9 % | $303 |
| Electricity | Estimated | $4,206 | 5.1 % | $526 |
| Heating | Estimated | $1,533 | 1.8 % | $192 |
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $2,000 | 2.4 % | $250 |
| Maintenance | Normalised | $5,600 | 6.8 % | $700 |
| Appliances | Estimated | $240 | 0.3 % | $30 |
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $829 | 1 % | $104 |
| Total expenses | $30,278 | 36.5 % | $3,785 | |
| Net Revenue | $52,634 | $6,579 |
| SCHL | |||
|---|---|---|---|
| Maximum loan amount | $776,731 | $618,359 | $917,954 |
| Financing CAP | 5.76 % | 6.38 % | 4.87 % |
| Debt coverage ratio | 1.3 | 1.25 | 1.1 |
| Interest Rate | 4.3 % | 4.75 % | 4.3 % |
| Amortization | 40 Years | 25 Years | 40 Years |
| Term | 5 Years | 5 Years | 5 Years |
| SCHL | |||
|---|---|---|---|
| Net Revenue | $52,634 | $52,634 | $52,634 |
| Annual Mortgage Cost | $43,020 | $42,107 | $50,538 |
| Net cash after mortgage | $9,614 | $10,527 | $2,095 |
| RETURN ON INVESTMENT | |||
| Down Payment | $498,269 | $656,641 | $357,046 |
| Cash on cash return | 1.9 % | 1.6 % | 0.6 % |
| Return on liquidity + capitalization | 3.5 % | 3.6 % | 3.2 % |
| Total yearly return with appreciation of 2 % | 8.65 % | 7.51 % | 10.36 % |
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