Nick Slobodinuk
| Team Slobodinuk & Rainville
Executive VP
|
Real Estate Broker | PMML Partner
A rare 1990-built 10-unit in the West Island, well maintained over the years: 6 x 4½ and 4 x 3½ on the top floor. Fourteen exterior parking spaces. Front balconies, brick and wood construction, very well insulated, with rental upside in the short and medium term. Average rent 1,018$. Opportunity knocks.
10 well-sized units
Close to amenities, schools and parks
Major building components in good condition
Building qualifies for MLI Select — 100 points
Priced competitively for the market
Roof redone in November 2020
4 to 5 patio doors replaced approximately 3 to 5 years ago
Several floors have been replaced
The sale is made without legal warranty of quality, at the buyer's own risk
The waste container is shared with the neighbour to the left
The hot water tanks belong to the seller, included in the sale
| Cadastral number | 1 978 855 |
| Total Municipal Assessment | 1 915 300 $ |
| Municipal Land Assessment | 723 000 $ |
| Municipal Building Assessment | 1 192 300 $ |
| Number of Storeys | 3 |
| Type of Building | Semi-detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1990 |
| Fire System | Fire detectors |
| Type of Parking | Exterior outside asphalt |
| Number of Parking Spaces | 14 parkings |
| Land Surface Area | 11 117 sqf |
| Laundry Room | No |
| Number of Units | 6 x 4,5 + 4 x 3,5 |
| Washer/Dryer Inlet | Inside units |
| Appliance Responsibility | Owner |
| Heating Responsibility | Tenant |
| Hot Water Responsibility | Tenant |
| Fenced | No |
| Internet and Telecom | Yes |
| Plumbing | 1990 |
| Condition of Roof | Redone November 2020 |
| Condition of Doors | 4–5 patio doors replaced 3–5 years ago |
| Condition of Balconies | Standard windows, good condition |
| Concierge Agreement | No — owner-managed |
| Intercom and Doorbell | Doorbell |
| Heating System | Electric |
| Hot Water System | Electric |
| Condition of Windows | Black metal railings, good condition |
| Condition of Kitchens | Good condition |
| Electrical Panels | Breakers |
| Exterior Siding | Brick and aluminum siding |
| Condition of Bathrooms | Good condition |
| Environmental Report | To be verified |
| Floor Covering | Mostly redone |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $122,100 | 100 % | $1,018 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $122,100 | $1,018 | |
| Vac. / Bad debt | $3,663 | 3 % | $31 |
| EGR | $118,437 | $987 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $5,330 | 4.5 % | $533 |
| Municipal Taxes | Current | $12,170 | 10.3 % | $1,217 |
| School Taxes | Current | $1,418 | 1.2 % | $142 |
| Insurance | Current | $7,914 | 6.7 % | $791 |
| Electricity | Current | $1,447 | 1.2 % | $145 |
| Heating | Current | |||
| Snow Removal | Current | $2,012 | 1.7 % | $201 |
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $2,500 | 2.1 % | $250 |
| Maintenance | Normalised | $7,000 | 5.9 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $1,184 | 1 % | $118 |
| Total expenses | $40,975 | 34.6 % | $4,098 | |
| Net Revenue | $77,462 | $7,746 |
| Maximum loan amount | $1,231,478 | $1,408,709 | $1,455,383 |
| Financing CAP | 5.98 % | 5.22 % | 5.06 % |
| Debt coverage ratio | 1.3 | 1.1 | 1.1 |
| Interest Rate | 4.3 % | 4.3 % | 4.3 % |
| Amortization | 50 Years | 45 Years | 50 Years |
| Term | 5 Years | 5 Years | 5 Years |
| Net Revenue | $77,462 | $77,462 | $77,462 |
| Annual Mortgage Cost | $59,586 | $70,420 | $74,140 |
| Net cash after mortgage | $17,876 | $7,042 | $3,322 |
| RETURN ON INVESTMENT | |||
| Down Payment | $867,522 | $690,291 | $643,617 |
| Cash on cash return | 2.1 % | 1.0 % | 0.5 % |
| Return on liquidity + capitalization | 2.9 % | 2.6 % | 1.9 % |
| Total yearly return with appreciation of 2 % | 7.73 % | 8.64 % | 8.44 % |
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