10 residential units (8 large 3 1/2s and 2 large 4 1/2s ) and 3 commercial units (1 vacant) in a corner building less than 10 minutes walking distance from metro Frontenac and, on the east side, next to a municipal parc located between Hochelaga and Ontario streets.
Ideal for investors seeking optimization (all but one residential units are rented at about 50% below current market rates).
The building and all units have been carefully maintained and show pride of ownership.
The commercial unit sizes are approximately as follows: daycare – 2,850 ft².; barbershop – 420 ft²; and a vacant unit currently under renovation – 750 ft².
Exceptional location on two street frontages on the western side of Hochelaga, 10 minute walk from metro Frontenac and close to downtown.
A building that has benefited from consistent, diligent maintenance over the years.
The sale is made without any legal warranty of quality, at the buyer's own risk.
Gross revenues include expected revenues from the vacant unit at an estimated $1,200/month.
| Cadastral number | 1 425 039 |
| Total Municipal Assessment | $ 1 842 500 |
| Municipal Land Assessment | $ 693 900 |
| Municipal Building Assessment | $ 1 148 600 |
| Number of Storeys | 3 |
| Type of Building | Semi-Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1937 |
| Fire System | Certified fire alarm system |
| Type of Parking | Exterior |
| Number of Parking Spaces | On street |
| Land Surface Area | 3 931 sq.ft |
| Laundry Room | N/A |
| Number of Units | 8 x 3.5 + 2 x 4.5 + 3 x commercial |
| Washer/Dryer Inlet | Yes, in each residential unit |
| Appliance Responsibility | Tenant |
| Heating Responsibility | Owner |
| Hot Water Responsibility | Owner |
| Fenced | None |
| Internet and Telecom | Yes |
| Plumbing | Copper |
| Condition of Roof | Good (20+ years) |
| Condition of Doors | Good |
| Condition of Balconies | Good |
| Concierge Agreement | N/A |
| Intercom and Doorbell | Intercom |
| Heating System | Gas furnace |
| Hot Water System | Central water tank |
| Condition of Windows | Good |
| Condition of Kitchens | Good |
| Electrical Panels | Breakers |
| Exterior Siding | Brick |
| Condition of Bathrooms | Good |
| Environmental Report | No |
| Floor Covering | Hardwood / ceramic / tiles |
| yearly | $ / PI² | |
|---|---|---|
| Residential | $80,940 | $519 |
| Affordable res. | ||
| Commercial | $49,464 | $317 |
| Lockers | ||
| Parking | ||
| Laundry | ||
| Recuperation | $16,823 | $108 |
| Total revenues | $147,227 | $944 |
| Vac. / Bad debt | $4,417 | $28 |
| EGR | $142,810 | $915 |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $7,141 | 5 % | $549 |
| Municipal Taxes | Current | $23,738 | 16.6 % | $1,826 |
| School Taxes | Current | $1,390 | 1 % | $107 |
| Insurance | Current | $7,376 | 5.2 % | $567 |
| Electricity | Current | $511 | 0.4 % | $39 |
| Heating | Current | $11,563 | 8.1 % | $889 |
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Estimated | $4,000 | 2.8 % | $308 |
| Maintenance | Estimated | $7,000 | 4.9 % | $538 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $1,428 | 1 % | $110 |
| Total expenses | $64,147 | 44.9 % | $4,934 | |
| Net Revenue | $78,664 | $6,051 |
| Maximum loan amount | $915,073 |
| Financing CAP | 6.45 % |
| Debt coverage ratio | 1.25 |
| Interest Rate | 4.85 % |
| Amortization | 25 Years |
| Term | 5 Years |
| Net Revenue | $78,664 |
| Annual Mortgage Cost | $62,931 |
| Net cash after mortgage | $15,733 |
| RETURN ON INVESTMENT | |
| Down Payment | $1,634,927 |
| Cash on cash return | 1.0 % |
| Return on liquidity + capitalization | 2.1 % |
| Total yearly return with appreciation of 2 % | 5.27 % |
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