Six-unit residential property located in the heart of Plateau-Mont-Royal, in a sought-after area benefiting from strong rental demand. This three-storey row building, constructed in 1927, consists of 6 x 4½, configured as 3½ units with double living rooms. The property currently generates annual residential rental income of $63,012 and offers significant potential for rental income growth and optimization. Its unit mix, generous apartment sizes and central location make it an attractive opportunity for an investor, while also offering potential for a future owner-occupant.
Prime location in the heart of Plateau-Mont-Royal, just steps from Duluth Avenue and Saint-Denis Street, known for their many restaurants, cafés, shops and terraces. Close to La Fontaine Park and the Sherbrooke and Mont-Royal metro stations.
Significant potential for rental income optimization.
Energy costs are paid by the tenants.
Roof redone in 2018.
Masonry repairs to the 2nd and 3rd floors, including the lintels, completed in 2019.
The sale is made without legal warranty of quality, at the buyer’s own risk and peril.
Two view easements are registered in the Land Registry under numbers 2,267,383 and 640,538.
| Cadastral number | 2 338 671 |
| Total Municipal Assessment | $ 1 331 700 |
| Municipal Land Assessment | $ 594 300 |
| Municipal Building Assessment | $ 594 300 |
| Number of Storeys | 3 |
| Type of Building | In a row |
| Type of Construction | Brick and wood |
| Year of Construction | 1927 |
| Fire System | Smoke detectors |
| Land Surface Area | 1 939 sq. ft |
| Laundry Room | No |
| Number of Units | 6 x 4.5 (3.5 double living rooms.) |
| Washer/Dryer Inlet | Yes in each units |
| Appliance Responsibility | Tenants |
| Heating Responsibility | Tenants |
| Hot Water Responsibility | Tenants |
| Fenced | Partially fenced backyard (outside the property boundaries) |
| Internet and Telecom | No |
| Plumbing | Copper, ABS - To be verified |
| Condition of Roof | Membrane - 2018 |
| Condition of Doors | Year unknown – To be replaced |
| Condition of Balconies | Concrete with metal railings |
| Concierge Agreement | No |
| Intercom and Doorbell | Separate entrances |
| Heating System | Electric baseboard heaters |
| Hot Water System | Independent tanks |
| Condition of Windows | Year unknown – To be replaced |
| Condition of Kitchens | Good condition |
| Electrical Panels | Circuit breakers - To be verified |
| Exterior Siding | Brick |
| Condition of Bathrooms | Good condition |
| Environmental Report | No |
| Floor Covering | Hardwood and ceramic flooring |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $63,012 | 100 % | $875 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $63,012 | $875 | |
| Vac. / Bad debt | $1,890 | 3 % | $26 |
| EGR | $61,122 | $849 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $2,750 | 4.5 % | $458 |
| Municipal Taxes | Current | $8,613 | 14.1 % | $1,436 |
| School Taxes | Current | $1,025 | 1.7 % | $171 |
| Insurance | Current | $3,434 | 5.6 % | $572 |
| Electricity | ||||
| Heating | ||||
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $1,500 | 2.5 % | $250 |
| Maintenance | Normalised | $4,200 | 6.9 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $611 | 1 % | $102 |
| Total expenses | $22,134 | 36.2 % | $3,689 | |
| Net Revenue | $38,988 | $6,498 |
| Maximum loan amount | $651,724 | $677,380 | $697,818 |
| Financing CAP | 5.08 % | 5.47 % | 5.31 % |
| Debt coverage ratio | 1.1 | 1.1 | 1.1 |
| Interest Rate | 4.6 % | 4.6 % | 4.6 % |
| Amortization | 40 Years | 45 Years | 50 Years |
| Term | 5 Years | 5 Years | 5 Years |
| Net Revenue | $38,988 | $38,988 | $38,988 |
| Annual Mortgage Cost | $37,743 | $37,589 | $37,387 |
| Net cash after mortgage | $1,245 | $1,399 | $1,601 |
| RETURN ON INVESTMENT | |||
| Down Payment | $723,276 | $697,620 | $677,182 |
| Cash on cash return | 0.2 % | 0.2 % | 0.2 % |
| Return on liquidity + capitalization | 1.0 % | 0.9 % | 0.8 % |
| Total yearly return with appreciation | of 3.13 % 6.99 % | of 2.91 % 6.65 % | of 2.99 % 6.89 % |
To see the detailed rent rolls of this building, you need to be connected.
