Set of two buildings located on the same lot, comprising a fully renovated quadruplex in the front and a partially renovated sixplex in the back. The portfolio totals 10 residential units, 4 x 2½ and 6 x 3½, with an average area of approximately 620 sq. ft., offering highly sought-after configurations perfectly suited to the strong rental demand of the area.
Located in a central and dynamic neighborhood, the building benefits from an excellent rental location. All energy costs are paid by tenants, thus optimizing operating expenses.
Eight of the ten units have been substantially renovated (including the quadruplex entirely, including structure) in recent years (kitchens and bathrooms), and several capital expenditures have also been completed, ensuring better asset durability.
An ideal opportunity for an investor looking for a stable, profitable, and well-maintained property, offering strong potential and sustained rental demand.
6 units in the rear: 3 of 6 (3 1/2) renovated by current owner in 2020.
Electricity and plumbing redone in the 6plex (1998) and quadruplex (2020)
Exterior: Balconies, windows, doors, roof, and siding.
Interior: Floors, kitchens, bathrooms, and structure for the quadruplex.
Brick siding was redone on both properties.
The sale is made without legal warranty of quality at the buyer's own risk.
| Cadastral number | 1 566 846 |
| Total Municipal Assessment | 1 612 400 $ |
| Municipal Land Assessment | 750 600 $ |
| Municipal Building Assessment | 861 800 $ |
| Number of Storeys | 3 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1910 |
| Fire System | Smoke detectors |
| Type of Parking | Outdoor |
| Number of Parking Spaces | None |
| Land Surface Area | 4039 |
| Laundry Room | No |
| Number of Units | 10 |
| Washer/Dryer Inlet | Yes in each unit |
| Appliance Responsibility | 4 owner (4 appliances each) / 6 tenant |
| Heating Responsibility | Tenant |
| Hot Water Responsibility | Tenant |
| Plumbing | Pex, ABS, copper - No galvanized |
| Condition of Roof | 2021 - elastomeric membrane |
| Condition of Doors | Building 1 = Replaced in 2021, Building 2 = Replaced around 1998 |
| Condition of Balconies | Fiberglass (2021), Replaced aluminum railings (2021), old steel structure |
| Concierge Agreement | No |
| Heating System | Electric baseboards |
| Hot Water System | Independent tanks - each unit |
| Condition of Windows | Building 1 = Replaced in 2021, Building 2 = Replaced around 1998 |
| Condition of Kitchens | Building 1 = Redone (2021), Building 2 = Redone (3 in 1998 & 3 in 2020) |
| Electrical Panels | Circuit breakers |
| Exterior Siding | Brick (completely redone on both properties in 2020) |
| Condition of Bathrooms | Building 1 = Redone (2021), Building 2 = Redone (3 in 1998 & 3 in 2020) |
| Environmental Report | Phase 1 (May 2023) |
| Floor Covering | Building 1 = Laminate 2021, Building 2 = Laminate and vinyl flooring |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $146,268 | 100 % | $1,219 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $146,268 | $1,219 | |
| Vac. / Bad debt | $4,388 | 3 % | $37 |
| EGR | $141,880 | $1,182 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Real | $6,030 | 4.3 % | $603 |
| Municipal Taxes | Current | $9,548 | 6.7 % | $955 |
| School Taxes | Current | $1,991 | 1.4 % | $199 |
| Insurance | Current | $5,365 | 3.8 % | $537 |
| Electricity | ||||
| Heating | ||||
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $2,500 | 1.8 % | $250 |
| Maintenance | Normalised | $7,000 | 4.9 % | $700 |
| Appliances | Current | $960 | 0.7 % | $96 |
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $1,419 | 1 % | $142 |
| Total expenses | $34,813 | 24.5 % | $3,481 | |
| Net Revenue | $107,067 | $10,707 |
| schl | conv | |
|---|---|---|
| Maximum loan amount | $1,867,306 | $1,356,950 |
| Financing CAP | 4.87 % | 5.92 % |
| Debt coverage ratio | 1.1 | 1.25 |
| Interest Rate | 4.3 % | 4.0 % |
| Amortization | 40 Years | 25 Years |
| Term | 5 Years | 5 Years |
| schl | conv | |
|---|---|---|
| Net Revenue | $107,067 | $107,067 |
| Annual Mortgage Cost | $103,350 | $85,654 |
| Net cash after mortgage | $3,718 | $21,413 |
| RETURN ON INVESTMENT | ||
| Down Payment | $382,694 | $893,050 |
| Cash on cash return | 1.0 % | 2.4 % |
| Return on liquidity + capitalization | 6.0 % | 6.0 % |
| Total yearly return with appreciation of 2 % | 17.75 % | 11.07 % |
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