34-units in two physically connected buildings just minutes’ walk from Villa-Maria Metro. These two 4 story buildings consist primarily of spacious 4½ units. Many apartments have been tastefully renovated with quality finishes while preserving original woodwork, maintaining their charm and attracting strong tenants. The property offers significant upside through optimization of the existing heating system. With many units already at market rents, management is straightforward. Offered for the first time in nearly 25 years, this well-maintained asset reflects pride of professional ownership.
Heating optimization potential
Incredible location with a Walkscore of 94
Buildings are connected allowing centralized laundry room, lockers and easy maintenance
Many units have been renovated in the last 10 years
Half of the heating system replaced
This sale is made without legal warranty, at the buyers risk.
| Cadastral number | 4 143 642 et 4 143 637 |
| Total Municipal Assessment | $ 5 866 900 |
| Municipal Land Assessment | $ 799 800 |
| Municipal Building Assessment | $ 5 067 100 |
| Number of Storeys | 4 |
| Type of Building | Semi-detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1931 |
| Fire System | Yes |
| Type of Parking | Street |
| Number of Parking Spaces | 0 |
| Land Surface Area | 7 474 sq. ft. |
| Laundry Room | Yes | Coinamatic 2 washer and 2 dryer |
| Number of Rooms | 24 x 4.5 + 9 x 3.5 + 1 x 2.5 |
| Number of Units | 34 |
| Washer/Dryer Inlet | Laundry room on site |
| Appliance Responsibility | Owner | Fridge and Stove |
| Heating Responsibility | Owner |
| Hot Water Responsibility | Owner |
| Fenced | N/A |
| Internet and Telecom | N/A |
| Plumbing | Mixed, many water lines changed to copper |
| Condition of Roof | To be verified |
| Condition of Doors | Medium condition |
| Condition of Balconies | Medium condition |
| Concierge Agreement | Yes |
| Intercom and Doorbell | Intercom system |
| Heating System | Gas furnace |
| Hot Water System | Central gas heating system |
| Condition of Windows | Medium condition |
| Condition of Kitchens | Good condition |
| Electrical Panels | Circuit breakers |
| Exterior Siding | Brick |
| Condition of Bathrooms | Good condition |
| Environmental Report | Update to be done |
| Floor Covering | Hardwood and ceramic |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $648,600 | 99.1 % | $1,590 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | $6,000 | 0.9 % | $15 |
| Total revenues | $654,600 | $1,604 | |
| Vac. / Bad debt | $19,638 | 3 % | $48 |
| EGR | $634,962 | $1,556 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $31,748 | 5 % | $934 |
| Municipal Taxes | Current | $37,277 | 5.9 % | $1,096 |
| School Taxes | Current | $4,756 | 0.7 % | $140 |
| Insurance | Current | $13,535 | 2.1 % | $398 |
| Electricity | Current | $3,298 | 0.5 % | $97 |
| Heating | Current | $46,358 | 7.3 % | $1,363 |
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $13,600 | 2.1 % | $400 |
| Maintenance | Normalised | $23,800 | 3.7 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $6,350 | 1 % | $187 |
| Total expenses | $180,721 | 28.5 % | $5,315 | |
| Net Revenue | $454,241 | $13,360 |
| schl | conv | |
|---|---|---|
| Maximum loan amount | $8,457,500 | $5,206,752 |
| Financing CAP | 4.53 % | 6.54 % |
| Debt coverage ratio | 1.1 | 1.25 |
| Interest Rate | 3.8 % | 5.0 % |
| Amortization | 40 Years | 25 Years |
| Term | 5 Years | 5 Years |
| schl | conv | |
|---|---|---|
| Net Revenue | $454,241 | $454,241 |
| Annual Mortgage Cost | $435,025 | $363,393 |
| Net cash after mortgage | $19,216 | $90,848 |
| RETURN ON INVESTMENT | ||
| Down Payment | $1,492,500 | $4,743,248 |
| Cash on cash return | 1.3 % | 1.9 % |
| Return on liquidity + capitalization | 7.9 % | 4.2 % |
| Total yearly return with appreciation of 2 % | 21.2 % | 8.39 % |
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