A 6-unit brick building ideally located on 7th Avenue North, just 1 km from Cégep de Sherbrooke and directly across from École Sainte-Famille. The property comprises six 4 ½ units, four of which have been renovated to modern standards. Utilities are the tenants' responsibility.
Several significant improvements have been made over the years, including front balconies, some windows, the basement entrance, four separate water tanks, the roof, and more.
This well-maintained building offers excellent potential, perfect for a first investment or to enhance your real estate portfolio.
Strategic location for a student or dynamic clientele.
The basement is very large and could offer storage spaces for tenants.
4 apartments fully renovated
Covered basement entrance
Front balconies
Part of the windows replaced in 2024
Elastomeric membrane roof (2022)
Electric water heaters: 2 (2018), 4 (2024)
The building is subject to an easement for the right of passage of underground electrical wires from the neighboring building. The wires were installed to serve the building but are not currently connected.
The sale is made without legal warranty of quality, at the buyer’s risk.
Snow removal: $829.00 Lawn care: $345.00
| Cadastral number | 1 330 043 |
| Total Municipal Assessment | $ 615 600 |
| Municipal Land Assessment | $ 86 100 |
| Municipal Building Assessment | $ 529 500 |
| Number of Storeys | 3 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1950 |
| Fire System | No, independent entrances |
| Type of Parking | Outdoor |
| Number of Parking Spaces | 6 spaces |
| Land Surface Area | 5 148 sq. ft. |
| Laundry Room | N/A |
| Number of Rooms | 24 |
| Number of Units | 6 x 4.5 |
| Washer/Dryer Inlet | Yes, in each unit |
| Appliance Responsibility | Tenants |
| Heating Responsibility | Tenants |
| Hot Water Responsibility | Tenants |
| Internet and Telecom | Yes |
| Plumbing | Copper, ABS, PEX |
| Condition of Roof | Elastomeric membrane (2022) |
| Condition of Doors | Part replaced in 2024, the rest approximately 15 years old |
| Condition of Balconies | Fiberglass (front) in good condition / Wood (side) needs to be redone |
| Concierge Agreement | N/A |
| Intercom and Doorbell | Yes, doorbell |
| Heating System | Electric baseboards |
| Hot Water System | Independent tanks |
| Condition of Windows | Part replaced in 2024, the rest approximately 15 years old |
| Condition of Kitchens | 4 kitchens fully renovated |
| Electrical Panels | Circuit breakers |
| Exterior Siding | Brick |
| Condition of Bathrooms | 4 bathrooms fully renovated |
| Environmental Report | N/A |
| Floor Covering | Vinyl, hardwood |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $74,028 | 100 % | $1,028 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $74,028 | $1,028 | |
| Vac. / Bad debt | $2,221 | 3 % | $31 |
| EGR | $71,807 | $997 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $3,231 | 4.5 % | $539 |
| Municipal Taxes | Current | $7,849 | 10.9 % | $1,308 |
| School Taxes | Current | $418 | 0.6 % | $70 |
| Insurance | Current | $4,119 | 5.7 % | $687 |
| Electricity | ||||
| Heating | ||||
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $1,500 | 2.1 % | $250 |
| Maintenance | Normalised | $4,200 | 5.8 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $718 | 1 % | $120 |
| Total expenses | $22,035 | 30.7 % | $3,673 | |
| Net Revenue | $49,772 | $8,295 |
| schl | conv | |
|---|---|---|
| Maximum loan amount | $843,738 | $594,281 |
| Financing CAP | 5.01 % | 6.28 % |
| Debt coverage ratio | 1.1 | 1.2 |
| Interest Rate | 4.5 % | 5.0 % |
| Amortization | 40 Years | 25 Years |
| Term | 5 Years | 5 Years |
| schl | conv | |
|---|---|---|
| Net Revenue | $49,772 | $49,772 |
| Annual Mortgage Cost | $48,168 | $41,476 |
| Net cash after mortgage | $1,603 | $8,295 |
| RETURN ON INVESTMENT | ||
| Down Payment | $225,262 | $474,719 |
| Cash on cash return | 0.7 % | 1.7 % |
| Return on liquidity + capitalization | 4.4 % | 4.3 % |
| Total yearly return with appreciation of 2 % | 13.88 % | 8.85 % |
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