Rare opportunity to invest in a 9-plex in the Vieux-Longueuil area, close to main roads such as Boulevard Roland-Therrien and Boulevard des Ormeaux. This detached building was built in 1972 with an all brick exterior. This building has nine spacious residential units (2 3½ units, 4 4½ units and 3 5½ units) and exterior parking located in the back of the building. The roof was redone in 2019, ensuring long-term peace of mind for the owner. The area offers nearby services such as shops, schools and public transport, which is an asset for tenants. In addition, the property is eligible for the APH Select energy efficiency program and/or the affordability program. This opportunity is interesting for investors wishing to acquire a building with great potential for rental optimization. This 9-plex is an exceptional addition to any real estate portfolio.
- Building composed of (3 x 5.5) + (4 x 4.5) + (2 x 3.5)
- Four-sided brick building
- Close to public transport, shops and to major roads such as Boul.Jacques-Cartier E., Ch.De Chambly, Boul.Roland-Therrien and Boul.Des Ormeaux. Ideal for tenants
- Renovation of front/rear cement entrances
- Renovation of the rear balconies apt 5, 7 and 9
- Aesthetic renovation in certain units
- Roof replaced in 2019
- The sale is made without legal guarantee of quality at the buyer's risk.
- A new certificate of location will be ordered shortly. The certificate currently available is from 2006.
- An environmental phase 1 is ordered at the expense of the owners
| Cadastral number | 1 927 974 |
| Total Municipal Assessment | 1 593 600 $ (2023) |
| Municipal Land Assessment | 512 100$ (2023) |
| Municipal Building Assessment | 1 081 500 $ (2023) |
| Number of Storeys | 3 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1972 |
| Fire System | Alarm system |
| Type of Parking | Exterior |
| Number of Parking Spaces | 9 |
| Land Surface Area | 975,5m² |
| Laundry Room | N/A |
| Number of Rooms | To be verified |
| Number of Units | 9 |
| Washer/Dryer Inlet | Yes in each units |
| Appliance Responsibility | Tenants |
| Heating Responsibility | Tenants |
| Hot Water Responsibility | Tenants |
| The sale is made without legal guarantee of quality at the buyer's risk. | |
| Fenced | No |
| Internet and Telecom | To be verifed |
| Plumbing | Copper and ABS |
| Condition of Roof | Excellente, roof replaced in (2019) |
| Condition of Doors | Good |
| Condition of Balconies | Good and renovation of the rear balconies apt 5, 7 and 9 |
| Concierge Agreement | Yes but written agreement not signed |
| Intercom and Doorbell | Doorbell |
| Heating System | Electric baseboard |
| Hot Water System | Independant water heaters |
| Condition of Windows | Good |
| Condition of Kitchens | Good |
| Electrical Panels | Fuses |
| Exterior Siding | Brick |
| Condition of Bathrooms | Good |
| Environmental Report | A Phase 1 is ordered at the owner's expense |
| Floor Covering | Floating floor and ceramic |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $102,852 | 100 % | $952 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $102,852 | $952 | |
| Vac. / Bad debt | $3,086 | 3 % | $29 |
| EGR | $99,766 | $924 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $4,489 | 4.5 % | $499 |
| Municipal Taxes | Current | $11,801 | 11.8 % | $1,311 |
| School Taxes | Current | $1,102 | 1.1 % | $122 |
| Insurance | Current | $7,099 | 7.1 % | $789 |
| Electricity | Current | $732 | 0.7 % | $81 |
| Heating | ||||
| Snow Removal | Current | $1,167 | 1.2 % | $130 |
| Elevator | ||||
| Lawn | Current | $683 | 0.7 % | $76 |
| Structural reserve | ||||
| Janitor | Normalised | $2,250 | 2.3 % | $250 |
| Maintenance | Normalised | $6,300 | 6.3 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $998 | 1 % | $111 |
| Total expenses | $36,621 | 36.7 % | $4,069 | |
| Net Revenue | $63,146 | $7,016 |
| Maximum loan amount | $1,295,226 | $1,188,329 |
| Financing CAP | 4.00 % | 4.00 % |
| Debt coverage ratio | 1.1 | 1.1 |
| Interest Rate | 3.6 % | 3.6 % |
| Amortization | 50 Years | 40 Years |
| Term | 5 Years | 5 Years |
| Net Revenue | $63,146 | $63,146 |
| Annual Mortgage Cost | $57,405 | $57,405 |
| Net cash after mortgage | $5,741 | $5,741 |
| RETURN ON INVESTMENT | ||
| Down Payment | $554,774 | $661,671 |
| Cash on cash return | 1.0 % | 0.9 % |
| Return on liquidity + capitalization | 2.7 % | 2.8 % |
| Return on liquidity + cap. + appreciation | 9.3 % | 8.4 % |
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