This 11-unit brick building is located in the heart of Sherbrooke. It comprises seven 4.5-room apartments and four 3.5-room apartments, with a laundry room in the basement shared by two units. The building is entirely electric, and energy costs are the responsibility of the tenants, with the exception of two units. One unit will be vacant on July 1st but is currently listed for rent. It is conveniently located near all amenities and directly across from Judes-O-Camirand Park. The owner has held the building since 1998 and has maintained excellent management over the years.
One unit will be vacant starting July 1st, but is currently listed for rent. (Unit #1)
Located just steps from a park, schools, and shops.
Area undergoing significant development, attracting a high-quality clientele.
Roof replaced around 2009
10 renovated bathrooms
Exterior doors replaced on August 11th
Fire system
Wooden balcony largely rebuilt
Masonry work will be completed this summer, including crack repairs
The owner mows the lawn himself.
The sale is made without any legal warranty of quality, at the buyer’s own risk.
The costs of snow removal ($690.00) are split equally among the neighboring owners.
Easements regarding views and right of way are listed in the property survey.
| Cadastral number | 1 030 565 |
| Municipal Assessment | 928 900 $ |
| Municipal Land Assessment | 152 400 $ |
| Municipal Building Assessment | 776 500 $ |
| Number of Storeys | 4 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1935 |
| Stone foundation. | |
| Fire System | Yes |
| Type of Parking | Exterior |
| Number of Parking Spaces | 2 |
| Land Surface Area | 4 101 Sq Ft |
| Laundry Room | Yes, for 2 units |
| Number of Rooms | 40 |
| Number of Units | 7 x 4.5 + 4 x 3.5 |
| Washer/Dryer Inlet | In 9 units |
| Appliance Responsibility | Owner/ Tenants |
| Heating Responsibility | Owner 2 / Tenants 9 |
| Hot Water Responsibility | Owner 2 / Tenants 9 |
| Fenced | N/A |
| Internet and Telecom | N/A |
| Plumbing | Copper, ABS, cast iron |
| Condition of Roof | Elastomer membrane +/-2009 |
| Condition of Doors | Good condition - 8/11 replaced |
| Condition of Balconies | Most of the wood has been replaced |
| Concierge Agreement | N/A |
| Intercom and Doorbell | Intercom system for 6 units |
| Heating System | Electric baseboard |
| Hot Water System | Separate fuel tanks (11 × 40 gallons, 2011–2025) |
| Condition of Windows | Windows replaced around 2009 |
| Condition of Kitchens | Good condition |
| Electrical Panels | Circuit breakers |
| Exterior Siding | Brick |
| Condition of Bathrooms | Good condition - 10/11 renovated |
| Environmental Report | To come |
| Floor Covering | Hardwood, vinyl, tile, ceramic |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $117,840 | 100 % | $893 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $117,840 | $893 | |
| Vac. / Bad debt | $3,535 | 3 % | $27 |
| EGR | $114,305 | $866 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $4,858 | 4.3 % | $442 |
| Municipal Taxes | Current | $12,712 | 11.1 % | $1,156 |
| School Taxes | Current | $613 | 0.5 % | $56 |
| Insurance | Current | $6,198 | 5.4 % | $563 |
| Electricity | Current | $2,977 | 2.6 % | $271 |
| Heating | ||||
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $2,365 | 2.1 % | $215 |
| Maintenance | Normalised | $6,710 | 5.9 % | $610 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| Total expenses | $36,433 | 31.9 % | $3,312 | |
| Net Revenue | $77,872 | $7,079 |
| schl | conv | |
|---|---|---|
| Maximum loan amount | $1,418,481 | $892,606 |
| Financing CAP | 4.67 % | 6.54 % |
| Debt coverage ratio | 1.1 | 1.25 |
| Interest Rate | 4.0 % | 5.0 % |
| Amortization | 40 Years | 25 Years |
| Term | 5 Years | 5 Years |
| schl | conv | |
|---|---|---|
| Net Revenue | $77,872 | $77,872 |
| Annual Mortgage Cost | $75,193 | $62,297 |
| Net cash after mortgage | $2,679 | $15,574 |
| RETURN ON INVESTMENT | ||
| Down Payment | $471,519 | $997,394 |
| Cash on cash return | 0.6 % | 1.6 % |
| Return on liquidity + capitalization | 3.9 % | 3.4 % |
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