Samuel Lapointe
| Team Samuel & Jessika
Executive VP
|
Real Estate Broker | PMML Partner
Jessika Anne Ledingham
| Team Samuel & Jessika
Senior VP
|
Real Estate Broker | PMML Partner
A 16-unit rental building with 9 x 4½ and 7 x 5.½, built in 1971 and ideally located in the established Vieux-Longueuil neighborhood. Fully leased, it generates an average rent of $1,305 per month per unit, providing stable income. Utility costs are the responsibility of the tenants. Close to all amenities, public transportation, and major highways, this property is a sound investment for the serious investor.
A short distance from the Longueuil–Université-de-Sherbrooke terminal (Yellow Line)
Quick access to Highways 20 and 30 and the Jacques-Cartier Bridge
Metro Plus, pharmacies, restaurants, and shops on Saint-Charles Street within 10 minutes
Area with excellent access to elementary and high schools
Brickwork at the rear is currently underway
Replacement of 12 windows at the rear is currently underway
2 kitchens and 3 bathrooms have been completely renovated
Mortgage assumption - MLI Select Affordability
Bank: Peoples Trust Company | Balance: $3,095,020 | Rate: 3.85% | Term: 10/11/2028 | Monthly payment: $11,570.10
The sale is made without any legal warranty of quality, at the buyer's own risk.
| Cadastral number | 3 223 312 |
| Total Municipal Assessment | 2 876 700 $ |
| Municipal Land Assessment | 805 400 $ |
| Municipal Building Assessment | 2 071 300 $ |
| Number of Storeys | 3 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1971 |
| Fire System | Smoke detectors |
| Type of Parking | Exterior with asphalt coating |
| Laundry Room | N/A |
| Number of Units | 9 x 4½ and 7 x 5½ |
| Washer/Dryer Inlet | Yes, in each unit |
| Appliance Responsibility | Tenant |
| Heating Responsibility | Tenant |
| Hot Water Responsibility | Tenant |
| This sale is made without legal warranty of quality, at the buyers risk. | |
| Fenced | No |
| Internet and Telecom | N/A |
| Plumbing | Pex | Cup |
| Condition of Roof | Flat | Multi-layer tar gravel |
| Condition of Doors | Sliding patio doors | Steel |
| Condition of Balconies | Fiberglass |
| Concierge Agreement | Yes |
| Intercom and Doorbell | Ringbell |
| Heating System | Electric baseboards |
| Hot Water System | Independent tanks |
| Condition of Windows | Aluminium |
| Condition of Kitchens | Good condition | Some have been renovated |
| Electrical Panels | Breakers |
| Exterior Siding | Brick |
| Condition of Bathrooms | Good condition | Some have been renovated |
| Environmental Report | Update to be done |
| Floor Covering | Floating | Ceramic |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $250,560 | 100 % | $1,305 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $250,560 | $1,305 | |
| Vac. / Bad debt | $7,517 | 3 % | $39 |
| EGR | $243,043 | $1,266 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $12,152 | 5 % | $760 |
| Municipal Taxes | Current | $27,770 | 11.4 % | $1,736 |
| School Taxes | Current | $2,020 | 0.8 % | $126 |
| Insurance | Current | $14,005 | 5.8 % | $875 |
| Electricity | Current | $1,282 | 0.5 % | $80 |
| Heating | ||||
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $6,400 | 2.6 % | $400 |
| Maintenance | Normalised | $11,200 | 4.6 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $2,430 | 1 % | $152 |
| Telecommunication | Current | $10,527 | 4.3 % | $658 |
| Total expenses | $87,787 | 36.1 % | $5,487 | |
| Net Revenue | $155,257 | $9,704 |
| Assumption | |
|---|---|
| Maximum loan amount | $3,095,020 |
| Financing CAP | |
| Debt coverage ratio | |
| Interest Rate | 3.85 % |
| Amortization | 50 Years |
| Term | 5 Years |
| Assumption | |
|---|---|
| Net Revenue | $155,257 |
| Annual Mortgage Cost | $138,840 |
| Net cash after mortgage | $16,417 |
| RETURN ON INVESTMENT | |
| Down Payment | $879,980 |
| Cash on cash return | 1.9 % |
| Return on liquidity + capitalization | 6.4 % |
| Total yearly return with appreciation of 2 % | 15.48 % |
To see the detailed rent rolls of this building, you need to be connected.