This 8-unit brick building is located in Waterville on a large lot of over 16,000 sq ft. It comprises four 5 ½ and four 2 ½ apartments. Energy costs are the responsibility of the owner for heating and, for the most part, also for hot water. Two units will be vacant starting July 1st, representing an excellent opportunity for short-term income optimization.
One of the units has rear access.
There are several unused storage spaces available in the basement.
Located in downtown Waterville, within walking distance of Collège François de la Place and Waterville TG.
A coin-operated laundry room is available in the basement.
Part of the roof - 2018
New oil-fired furnace - 2015
Painting of common areas
Renovation of the outdoor courtyard
8 display windows and 3 windows were replaced
4 bathrooms were renovated.
Right to animals.
The sale is made without any legal warranty of quality, at the buyer's own risk.
Possibility of CMHC MLI energy efficiency financing.
Snow removal: $1006.00/ Laundry revenue is estimated.
| Cadastral number | 1 801 729 |
| Total Municipal Assessment | $451 400 |
| Municipal Land Assessment | $60 100 |
| Municipal Building Assessment | $391 300 |
| Number of Storeys | 2 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1970 |
| Fire System | Fire extinguishers and smoke detectors |
| Type of Parking | Exterior with gravel |
| Number of Parking Spaces | 10 spaces |
| Land Surface Area | 16 339 sq.ft. |
| Laundry Room | Yes |
| Number of Rooms | 28 |
| Number of Units | 4 x 5.5, 4 x 2.5 |
| Washer/Dryer Inlet | Laundry room located at 101 |
| Appliance Responsibility | Owner / Tenant |
| Heating Responsibility | Owner |
| Hot Water Responsibility | Mostly owner/Tenant |
| Fenced | Surrounded by hedges |
| Internet and Telecom | N/A |
| Plumbing | Copper, ABS - To be verified |
| Condition of Roof | Elastomer membrane - Replaced in 2018 |
| Condition of Doors | Fair condition |
| Condition of Balconies | Wooden, in fair condition |
| Concierge Agreement | N/A |
| Intercom and Doorbell | N/A |
| Heating System | Oil-fired central heating |
| Hot Water System | 8 electric tanks |
| Condition of Windows | Some are new, some need to be replaced |
| Condition of Kitchens | Fair condition |
| Electrical Panels | Circuit breakers |
| Exterior Siding | Brick and vinyl |
| Condition of Bathrooms | Fair condition |
| Environmental Report | No |
| Floor Covering | Vinyl, laminate, linoleum |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $78,480 | 100 % | $818 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $78,480 | $818 | |
| Vac. / Bad debt | $2,354 | 3 % | $25 |
| EGR | $76,126 | $793 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Current | $3,006 | 3.9 % | $376 |
| Municipal Taxes | Current | $9,883 | 13 % | $1,235 |
| School Taxes | Current | $309 | 0.4 % | $39 |
| Insurance | Current | $3,500 | 4.6 % | $438 |
| Electricity | ||||
| Heating | Current | $11,854 | 15.6 % | $1,482 |
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $2,000 | 2.6 % | $250 |
| Maintenance | Normalised | $5,600 | 7.4 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $761 | 1 % | $95 |
| Total expenses | $36,913 | 48.5 % | $4,614 | |
| Net Revenue | $39,212 | $4,902 |
| conv | |||
|---|---|---|---|
| Maximum loan amount | $472,318 | $524,975 | $683,879 |
| Financing CAP | 6.23 % | 6.35 % | 4.87 % |
| Debt coverage ratio | 1.25 | 1.3 | 1.1 |
| Interest Rate | 4.5 % | 5.0 % | 4.3 % |
| Amortization | 25 Years | 40 Years | 40 Years |
| Term | 5 Years | 5 Years | 5 Years |
| conv | |||
|---|---|---|---|
| Net Revenue | $39,212 | $39,212 | $39,212 |
| Annual Mortgage Cost | $31,370 | $32,072 | $37,667 |
| Net cash after mortgage | $7,842 | $7,140 | $1,545 |
| RETURN ON INVESTMENT | |||
| Down Payment | $376,682 | $324,025 | $165,121 |
| Cash on cash return | 2.1 % | 2.2 % | 0.9 % |
| Return on liquidity + capitalization | 4.9 % | 3.6 % | 5.2 % |
| Total yearly return with appreciation of 2 % | 9.38 % | 8.85 % | 15.46 % |
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