Investment opportunity you can't miss in the municipality of Gracefield. 10 units consisting of 1 x 5.5 + 6 x 4.5 + 3 x 3.5. Two new units created in 2020 and the other 8 were completely redone in 1993 including plumbing and electricity. Since that time, there has been multiple renovations have been made such as flooring, certain bathrooms and kitchens, windows, and more. The owner takes great care of the property and has very good tenants.
Extremely well maintained.
Strong rental demand in this area.
Close proximity to all business's and services in Gracefield.
2 new housing units in the basement.
Replacement of all windows except apt. 6 and 8
Multiple renovations completed such as flooring, certain bathrooms and kitchens, windows, and more.
The sale is made without legal guarantee of quality at the buyer's risk.
| Cadastral number | 5 410 569 |
| Total Municipal Assessment | 453 200$ |
| Municipal Land Assessment | 29 600 $ |
| Municipal Building Assessment | 423 600$ |
| Number of Storeys | 2 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1950 |
| Fire System | To be verified |
| Type of Parking | Exterior |
| Number of Parking Spaces | 8 parking spaces |
| Land Surface Area | 7 567 sqft |
| Laundry Room | None |
| Washer/Dryer Inlet | Yes | In the apartments |
| Appliance Responsibility | Owner |
| Heating Responsibility | Tenant |
| Hot Water Responsibility | Tenant |
| Plumbing | Copper and PEX |
| Condition of Roof | 3 to 5 years of usage remaining |
| Condition of Doors | Good |
| Condition of Balconies | Good |
| Concierge Agreement | No |
| Intercom and Doorbell | To be verified |
| Heating System | Electric baseboards |
| Hot Water System | Independent tanks |
| Condition of Windows | 2019-2020 | Replaced |
| Condition of Kitchens | 4 new and 6 very good condition |
| Electrical Panels | Breakers |
| Exterior Siding | Stone |
| Condition of Bathrooms | 4 new and 6 very good condition |
| Environmental Report | No |
| Floor Covering | Linoleum, laminate and ceramic |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $95,220 | 100 % | $794 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $95,220 | $794 | |
| Vac. / Bad debt | $2,857 | 3 % | $24 |
| EGR | $92,363 | $770 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $4,156 | 4.5 % | $416 |
| Municipal Taxes | Current | $18,998 | 20.6 % | $1,900 |
| School Taxes | Current | $198 | 0.2 % | $20 |
| Insurance | Current | $5,763 | 6.2 % | $576 |
| Electricity | Current | $2,449 | 2.7 % | $245 |
| Heating | ||||
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $2,500 | 2.7 % | $250 |
| Maintenance | Normalised | $7,000 | 7.6 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $924 | 1 % | $92 |
| Pelouse | Current | $400 | 0.4 % | $40 |
| Total expenses | $42,388 | 45.9 % | $4,239 | |
| Net Revenue | $49,975 | $4,998 |
| Maximum loan amount | $651,041 |
| Financing CAP | 4.00 % |
| Debt coverage ratio | 1.3 |
| Interest Rate | 4.29 % |
| Amortization | 30 Years |
| Term | 5 Years |
| Net Revenue | $49,975 |
| Annual Mortgage Cost | $39,915 |
| Net cash after mortgage | $10,060 |
| RETURN ON INVESTMENT | |
| Down Payment | $243,959 |
| Cash on cash return | 4.1 % |
| Return on liquidity + capitalization | 8.8 % |
| Total yearly return with appreciation of 2 % | 16.13 % |
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