This semi-commercial building had its residential floor completely renovated and redesigned in 2024 to accommodate six individual room tenants, generating $4,265 in monthly rent. Upon city approval, it could be possible to convert the commercial ground floor into residential.
Old Longueuil
Semi-Commercial Property with High Revenue Optimization Potential
Residential Floor (two 4 1/2 apartments) renovated in 2024 and fully rented
Ground Floor Commercial
Roof, plumbing, kitchen, bathroom
This sale is made without any legal guarantee of quality and at the buyer's risk.
Please note that the units are rented by the room:
324: $4,270 (Vacant / Potential Revenue after conversion, identical to the floor above)
326: 735 + 700 + 700 = $2,135 /328: 730 + 690 + 710 = $2,130
| Cadastral number | 3 221 420 |
| Total Municipal Assessment | 435 500$ |
| Municipal Land Assessment | 162 300$ |
| Municipal Building Assessment | 273 200$ |
| Number of Storeys | 2 |
| Type of Building | In row 1 side |
| Type of Construction | Brick and wood |
| Year of Construction | 1949 |
| Fire System | To be verified |
| Type of Parking | Exterior |
| Number of Parking Spaces | To be confirmed |
| Land Surface Area | 4980 sq. ft. |
| Laundry Room | To be verified |
| Washer/Dryer Inlet | Yes |
| Appliance Responsibility | To be verified |
| Heating Responsibility | Tenants |
| Hot Water Responsibility | Tenants |
| Plumbing | 2024 |
| Condition of Roof | 2023 |
| Condition of Doors | 2024 |
| Condition of Balconies | To be verified |
| Concierge Agreement | No |
| Intercom and Doorbell | To be verified |
| Heating System | Electric baseboards |
| Hot Water System | Independent tanks |
| Condition of Windows | 2024 |
| Condition of Kitchens | 2024 |
| Electrical Panels | Circuit breaker |
| Exterior Siding | Brick |
| Condition of Bathrooms | 2024 |
| Environmental Report | No |
| Floor Covering | Floating |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $51,780 | 50.3 % | $1,438 |
| Affordable res. | |||
| Commercial | $51,120 | 49.7 % | $1,420 |
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $102,900 | $2,858 | |
| Vac. / Bad debt | $3,087 | 3 % | $86 |
| EGR | $99,813 | $2,773 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $4,492 | 4.5 % | $1,497 |
| Municipal Taxes | Current | $9,007 | 9 % | $3,002 |
| School Taxes | Current | $360 | 0.4 % | $120 |
| Insurance | Current | $2,287 | 2.3 % | $762 |
| Electricity | Current | $2,859 | 2.9 % | $953 |
| Heating | ||||
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $750 | 0.8 % | $250 |
| Maintenance | Normalised | $2,100 | 2.1 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $998 | 1 % | $333 |
| Total expenses | $22,853 | 22.9 % | $7,618 | |
| Net Revenue | $76,960 | $25,653 |
| schl | conv | |
|---|---|---|
| Maximum loan amount | $595,000 | $525,000 |
| Financing CAP | 5.78 % | 6.71 % |
| Debt coverage ratio | 1.1 | 1.2 |
| Interest Rate | 4.69 % | 5.69 % |
| Amortization | 30 Years | 25 Years |
| Term | 5 Years | 5 Years |
| schl | conv | |
|---|---|---|
| Net Revenue | $76,960 | $76,960 |
| Annual Mortgage Cost | $38,975 | $39,154 |
| Net cash after mortgage | $37,986 | $37,806 |
| RETURN ON INVESTMENT | ||
| Down Payment | $105,000 | $175,000 |
| Cash on cash return | 36.2 % | 21.6 % |
| Return on liquidity + capitalization | 45.6 % | 27.3 % |
| Total yearly return with appreciation of 2 % | 58.95 % | 35.25 % |
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