An 8-unit brick building constructed in 1987, comprising eight 4.5-room apartments; tenants are responsible for their own heating and electricity costs. It is located on a main thoroughfare in Waterville. Several renovations have been carried out in recent years, including the replacement of the roof, windows, and drainage system. The building still offers good potential for increasing rental income. It has been meticulously maintained over the years.
Just a short walk from the La Place Water grocery store and the pharmacy.
Very close to the school, parks, and the Waterville TG factory.
Ideal for MLI Select energy-efficiency financing!
Heat Pump #3
2012 | Drainage work completed
2013 | Window replacement
2019 | Replacement of 6 hot water tanks
2019 | Roof repair on the building and the shed
2026 | Housing Update #7
The sale is made without any legal warranty of quality, at the buyer's own risk.
Five units are currently eligible for CMHC affordability assistance, but the commitment will be canceled upon sale.
| Cadastral number | 1 801 772 |
| Total Municipal Assessment | $707 400 |
| Municipal Land Assessment | $82 000 |
| Municipal Building Assessment | $625 400 |
| Number of Storeys | 3 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 198 |
| Fire System | No |
| Type of Parking | Exterior |
| Number of Parking Spaces | 12 spaces |
| Land Surface Area | 15 900 sq.ft |
| Laundry Room | No |
| Number of Rooms | 32 |
| Number of Units | 8 x 4.5 |
| Washer/Dryer Inlet | Yes, in each unit |
| Appliance Responsibility | Tenants |
| Heating Responsibility | Tenants |
| Hot Water Responsibility | Tenants |
| Fenced | Yes, on the left side |
| Internet and Telecom | N/A |
| Plumbing | Copper, ABS |
| Condition of Roof | Asphalt Shingles - 2019 |
| Condition of Doors | In good condition |
| Condition of Balconies | Concret |
| Concierge Agreement | To be verified |
| Intercom and Doorbell | Sonnettes |
| Heating System | Electric baseboard heaters and heat pumps |
| Hot Water System | Independent tanks |
| Condition of Windows | In good condition |
| Condition of Kitchens | Renovated and in good condition |
| Electrical Panels | Circuit Breakers |
| Exterior Siding | Brick |
| Condition of Bathrooms | Renovated and in good condition |
| Environmental Report | Yes - Phase 2 (Feb 2024) |
| Floor Covering | Wood, floating and ceramic |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $74,652 | 100 % | $778 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $74,652 | $778 | |
| Vac. / Bad debt | $2,240 | 3 % | $23 |
| EGR | $72,412 | $754 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $3,259 | 4.5 % | $407 |
| Municipal Taxes | Current | $11,946 | 16.5 % | $1,493 |
| School Taxes | Current | $497 | 0.7 % | $62 |
| Insurance | Current | $4,305 | 5.9 % | $538 |
| Electricity | Current | $747 | 1 % | $93 |
| Heating | ||||
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $2,000 | 2.8 % | $250 |
| Maintenance | Normalised | $5,600 | 7.7 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $724 | 1 % | $91 |
| Total expenses | $29,078 | 40.2 % | $3,635 | |
| Net Revenue | $43,335 | $5,417 |
| Maximum loan amount | $734,617 | $496,725 |
| Financing CAP | 5.01 % | 6.54 % |
| Debt coverage ratio | 1.1 | 1.25 |
| Interest Rate | 4.5 % | 5.0 % |
| Amortization | 40 Years | 25 Years |
| Term | 5 Years | 5 Years |
| Net Revenue | $43,335 | $43,335 |
| Annual Mortgage Cost | $41,622 | $34,668 |
| Net cash after mortgage | $1,712 | $8,667 |
| RETURN ON INVESTMENT | ||
| Down Payment | $309,383 | $547,275 |
| Cash on cash return | 0.6 % | 1.6 % |
| Return on liquidity + capitalization | 2.9 % | 3.5 % |
| Total yearly return with appreciation of 2 % | 9.62 % | 7.28 % |
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