Hendrik Lapointe
| Team Hendrik Lapointe
Senior VP
|
Real Estate Broker, CPA | PMML Partner
Stunning property in a prime location. Prime location. 8 units. Detached building comprising 4 x 5.5 + 4 x 4.5. Spacious apartment. Several rental improvements have been made, and the building is in good overall condition. This investment is very close to highways and major roads. 10 outdoor parking spaces. A superb opportunity with undeniable potential for optimization and value creation. A 5.5-room apartment will be vacant from August 1, 2026.
Close to all amenities (grocery stores, restaurants, shopping centers, parks, schools)
2 minutes from the bus and 10 minutes from the Longueuil metro station
Significant potential to further increase rental income
Renovation of certain housing units;
Roofing 2018
Installation of fiberglass balconies in 2011.
The sale is made without any legal warranty of quality, at the buyer’s own risk.
Apartment 8 will be vacant as of August 1, 2026—potential rent $1,750$
Large outdoor sheds and storage spaces
| Cadastral number | 3 222 305 |
| Total Municipal Assessment | $1 459 800 |
| Municipal Land Assessment | $564 400 |
| Municipal Building Assessment | $895 400 |
| Number of Storeys | 3 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1972 |
| Fire System | Smoke detectors |
| Type of Parking | Exterior |
| Number of Parking Spaces | 10 spaces |
| Land Surface Area | 11 571 sq.ft. |
| Laundry Room | N/A |
| Number of Units | 8 |
| Washer/Dryer Inlet | Yes, in each unit |
| Appliance Responsibility | Tenant |
| Heating Responsibility | Tenant |
| Hot Water Responsibility | Tenant |
| Plumbing | copper, ABS and cast iron for the main columns |
| Condition of Roof | Membrane / 2018 |
| Condition of Doors | Good condition |
| Condition of Balconies | Fiberglass balconies (2011) |
| Concierge Agreement | None, there is no concierge |
| Intercom and Doorbell | Doorbell |
| Heating System | Electric baseboard heaters |
| Hot Water System | Independent tanks |
| Condition of Windows | Good condition |
| Condition of Kitchens | Good condition |
| Electrical Panels | Circuit breakers |
| Exterior Siding | Brick |
| Condition of Bathrooms | Good condition |
| Environmental Report | Update required |
| Floor Covering | Hardwood & parquet flooring, laminate and ceramic |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $87,624 | 100 % | $913 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $87,624 | $913 | |
| Vac. / Bad debt | $2,629 | 3 % | $27 |
| EGR | $84,995 | $885 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $3,825 | 4.5 % | $478 |
| Municipal Taxes | Current | $10,616 | 12.5 % | $1,327 |
| School Taxes | Current | $967 | 1.1 % | $121 |
| Insurance | Current | $7,928 | 9.3 % | $991 |
| Electricity | Current | $260 | 0.3 % | $33 |
| Heating | ||||
| Snow Removal | Current | $1,529 | 1.8 % | $191 |
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $2,000 | 2.4 % | $250 |
| Maintenance | Normalised | $5,600 | 6.6 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $850 | 1 % | $106 |
| Total expenses | $33,575 | 39.5 % | $4,197 | |
| Net Revenue | $51,421 | $6,428 |
| Maximum loan amount | $764,012 | $1,015,700 | $936,660 |
| Financing CAP | 5.05 % | 4.81 % | 4.67 % |
| Debt coverage ratio | 1.25 | 1.1 | 1.1 |
| Interest Rate | 4.1 % | 4.0 % | 4.0 % |
| Amortization | 25 Years | 50 Years | 40 Years |
| Term | 5 Years | 5 Years | 5 Years |
| Net Revenue | $51,421 | $51,421 | $51,421 |
| Annual Mortgage Cost | $48,725 | $49,223 | $49,372 |
| Net cash after mortgage | $2,696 | $2,198 | $2,048 |
| RETURN ON INVESTMENT | |||
| Down Payment | $910,988 | $659,300 | $738,340 |
| Cash on cash return | 0.3 % | 0.3 % | 0.3 % |
| Return on liquidity + capitalization | 2.3 % | 1.4 % | 1.7 % |
| Total yearly return with appreciation of 2 % | 5.95 % | 6.46 % | 6.21 % |
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