Nine-unit brick building located in the sought-after Jacques-Cartier area of Sherbrooke. The beautiful Laurentian Park is right across the street. The building comprises six 5.5-room apartments, one 3.5-room apartment, and two 2.5-room apartments. The apartments are spacious and well-maintained. Several recent renovations have been completed, including the roof, windows, front balconies, and renovations to most of the apartments (flooring, cabinets, bathrooms). Energy costs are covered by the owner, making it ideal for energy-efficient financing!
Strategic and sought-after location.
High-quality tenants with two units available for rent.
Located near Carrefour de l’Estrie and Plateau St-Joseph (Walmart, Costco, Canadian Tire, etc.).
Quick access to Highway 410 and public transportation.
Garbage container replacement - 2024
Electric furnace replacement - 2023
600V panel replacement - 2023
French drain installation on 3 facades - 2022
Concrete sidewalk replacement - 2021
Front balcony - 2020
Floors - 2016
Roof - 2015
Foundation crack repair
Partial renovation of units #2, 3, 6, 7, 8, and 9 (Over the past few years)
The sale is made without legal guarantee of quality at the buyer's own risk.
The 2.5 and 3.5 size apartments are large and popular with single tenants.
The location certificate dates from June 2016. It must be validated by the buyer's notary.
Snow removal: $1 173.00
Responsible for the electricity bill for apartment #1.
| Cadastral number | 1 138 142 |
| Total Municipal Assessment | 912 600 $ |
| Municipal Land Assessment | 184 700 $ |
| Municipal Building Assessment | 727 900 $ |
| Number of Storeys | 3 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1969 |
| Fire System | Fire alarm and extinguishers |
| Type of Parking | Exterior in asphalt |
| Number of Parking Spaces | 11 spots |
| Land Surface Area | 10 020 sq. ft |
| Laundry Room | No |
| Number of Rooms | 37 |
| Number of Units | 6 x 5.5, 1 x 3.5, 2 x 2.5 |
| Washer/Dryer Inlet | Yes |
| Appliance Responsibility | Tenants |
| Heating Responsibility | Owner |
| Hot Water Responsibility | Owner |
| Fenced | Bordered by hedges |
| Internet and Telecom | N/A |
| Plumbing | Copper, ABS |
| Condition of Roof | Elastomeric membrane - 2015 |
| Condition of Doors | Changed in 2011 |
| Condition of Balconies | Fiberglass front, wood rear |
| Concierge Agreement | Yes, $700/year without a contract (lawn, snow removal of the pedestrian walkway and cleaning of common areas) |
| Intercom and Doorbell | Doorbell |
| Condition of Windows | Aluminium - Changed in 2011 |
| Condition of Kitchens | Good condition, new cabinets in some units |
| Electrical Panels | Circuit breakers |
| Exterior Siding | Brick |
| Condition of Bathrooms | Good condition, new bathrooms in some units |
| Environmental Report | Yes, Phase 1 |
| Floor Covering | Vinyl and ceramic, 2020 |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $115,164 | 99.6 % | $1,066 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | $480 | 0.4 % | $4 |
| Laundry | |||
| Total revenues | $115,644 | $1,071 | |
| Vac. / Bad debt | $3,469 | 3 % | $32 |
| EGR | $112,175 | $1,039 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $4,767 | 4.3 % | $530 |
| Municipal Taxes | Current | $11,683 | 10.4 % | $1,298 |
| School Taxes | Current | $646 | 0.6 % | $72 |
| Insurance | Current | $3,407 | 3 % | $379 |
| Electricity | Current | $5,971 | 5.3 % | $663 |
| Heating | Estimated | $1,000 | 0.9 % | $111 |
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $1,935 | 1.7 % | $215 |
| Maintenance | Normalised | $5,490 | 4.9 % | $610 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| Total expenses | $34,899 | 31.1 % | $3,878 | |
| Net Revenue | $77,275 | $8,586 |
| schl | conv | |
|---|---|---|
| Maximum loan amount | $1,377,158 | $898,922 |
| Financing CAP | 4.77 % | 6.45 % |
| Debt coverage ratio | 1.1 | 1.25 |
| Interest Rate | 4.15 % | 4.85 % |
| Amortization | 40 Years | 25 Years |
| Term | 5 Years | 5 Years |
| schl | conv | |
|---|---|---|
| Net Revenue | $77,275 | $77,275 |
| Annual Mortgage Cost | $74,078 | $61,820 |
| Net cash after mortgage | $3,198 | $15,455 |
| RETURN ON INVESTMENT | ||
| Down Payment | $371,842 | $850,078 |
| Cash on cash return | 0.9 % | 1.8 % |
| Return on liquidity + capitalization | 4.8 % | 4.1 % |
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