RARE opportunity for a 16 unit well maintained building in Hull, Mont-Bleu sector. The building consists of 15 x 2 bedrooms and one studio and is located in an optimal location for leasing, just steps away from St. Joseph Boulevard and only one minute from Highway 5. Don't miss your chance to get your hands on this great investment.
Stable tenants and income.
Very well maintained property and in good condition.
Close to all retail and services boulevard Saint-Joseph has to offer.
Proximity of multiple schools
Conversion from fuses to circuit breakers 2013
Complete fire standards updated from 2014 to 2016: replacement of passageway fire doors, heat detection, fire panel, etc.
Over 60k in renovations over the past three years (bathrooms, flooring, etc.)
The sale is made without any legal warranty of quality, at the buyer's own risk.
| Cadastral number | 1 344 497 |
| Total Municipal Assessment | 2 353 700 $ |
| Municipal Land Assessment | 428 700 $ |
| Municipal Building Assessment | 1 925 000 $ |
| Number of Storeys | 3 |
| Type of Building | Isolated |
| Type of Construction | Brick and wood |
| Year of Construction | 1970 |
| Fire System | Yes |
| Type of Parking | Exterior |
| Number of Parking Spaces | 19 |
| Land Surface Area | 12 816 sq.ft. |
| Laundry Room | Yes |
| Number of Units | 16 units |
| Washer/Dryer Inlet | 8 of the 16 units |
| Appliance Responsibility | Tenant |
| Heating Responsibility | Tenant |
| Hot Water Responsibility | Tenant |
| Internet and Telecom | Yes |
| Plumbing | Copper, ABS, PEX |
| Condition of Roof | 2006 |
| Condition of Doors | 2005 |
| Condition of Balconies | 2007 |
| Concierge Agreement | To be verified |
| Intercom and Doorbell | Yes |
| Heating System | Electric baseboards |
| Hot Water System | Hot water tanks |
| Condition of Windows | 2005 |
| Condition of Kitchens | Good condition |
| Electrical Panels | Circuit breakers |
| Exterior Siding | Brick |
| Condition of Bathrooms | Good condition |
| Environmental Report | No |
| Floor Covering | To be verified |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $225,360 | 98.7 % | $1,174 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | $3,000 | 1.3 % | $16 |
| Total revenues | $228,360 | $1,189 | |
| Vac. / Bad debt | $6,851 | 3 % | $36 |
| EGR | $221,509 | $1,154 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $11,075 | 5 % | $692 |
| Municipal Taxes | Current | $24,626 | 11.1 % | $1,539 |
| School Taxes | Current | $1,839 | 0.8 % | $115 |
| Insurance | Current | $11,348 | 5.1 % | $709 |
| Electricity | Current | $2,491 | 1.1 % | $156 |
| Heating | ||||
| Snow Removal | Current | $1,832 | 0.8 % | $115 |
| Elevator | ||||
| Lawn | Current | $859 | 0.4 % | $54 |
| Structural reserve | ||||
| Janitor | Normalised | $6,400 | 2.9 % | $400 |
| Maintenance | Normalised | $11,200 | 5.1 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $2,215 | 1 % | $138 |
| Total expenses | $73,886 | 33.4 % | $4,618 | |
| Net Revenue | $147,623 | $9,226 |
| schl | conv | |
|---|---|---|
| Maximum loan amount | $2,611,903 | $2,201,891 |
| Financing CAP | 4.80 % | 5.03 % |
| Debt coverage ratio | 1.1 | 1.2 |
| Interest Rate | 4.2 % | 2.85 % |
| Amortization | 40 Years | 25 Years |
| Term | 5 Years | 5 Years |
| schl | conv | |
|---|---|---|
| Net Revenue | $147,623 | $147,623 |
| Annual Mortgage Cost | $142,848 | $123,019 |
| Net cash after mortgage | $4,775 | $24,604 |
| RETURN ON INVESTMENT | ||
| Down Payment | $788,097 | $1,198,109 |
| Cash on cash return | 0.6 % | 2.1 % |
| Return on liquidity + capitalization | 4.1 % | 7.2 % |
| Total yearly return with appreciation of 2 % | 12.74 % | 12.86 % |
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