Hendrik Lapointe
| Team Hendrik Lapointe
Senior VP
|
Real Estate Broker, CPA | PMML Partner
For the first time on the market in 39 years, seize a rare opportunity to invest in a residential portfolio of 64 units spread across 8 different cadastral parcels, exclusively composed of spacious 4 ½ units, located in a rapidly growing area of Laval. This turnkey product generates very good annual income, with strong potential for optimization, as more than 50% of the units are below the $1,220 per month mark for this area (according to the CMHC-APH actual median income grid), which benefits from strong rental demand, easy access to transportation, and a dynamic residential environment. Strategically, the buildings are close to the Concorde metro station. In addition to the metro, which is a 5-minute walk away, there is also the commuter train, which is sought after by people who work in Montreal as well as those who work further north. As a result, current rents are well below market value, offering very good potential for increase.
Recent renovations (windows, unit renovations, front and rear balcony repairs, and more) enhance value and reduce short-term expenses.
This portfolio combines immediate returns with long-term growth. It is an ideal scenario for investors looking to consolidate their presence in the Laval market or diversify their portfolio with a turnkey asset.
Windows and doors completely replaced in 2017 (aluminum)
Rear balcony and front balcony to create an attractive living space (2024-2025)
23 units completely renovated
25 units partially renovated (kitchen, bathroom, painting)
Cameras at entrances
Number of lockers - All units have outdoor storage space
Unit layout - 64 large 4½ open-plan units
The sale is made without legal warranty of quality, at the buyer's own risk.
| Cadastral number | 1 405 208, 1 405 203 et autres |
| Total Municipal Assessment | 10 664 900 |
| Municipal Land Assessment | 3 200 900 |
| Municipal Building Assessment | 7 464 000 |
| Number of Storeys | 3 |
| Type of Building | Isolated |
| Type of Construction | Brick and wood |
| Year of Construction | 1976 |
| Fire System | N/A |
| Type of Parking | Exterior |
| Number of Parking Spaces | 64 parking spaces |
| Land Surface Area | ± 57,329 sq ft |
| Laundry Room | No |
| Number of Units | 64 x 4.5 |
| Washer/Dryer Inlet | Yes, in all accommodations |
| Appliance Responsibility | Tenants |
| Heating Responsibility | Tenants |
| Hot Water Responsibility | Tenants |
| Plumbing | Good condition |
| Condition of Roof | To be verified |
| Condition of Doors | Good condition |
| Condition of Balconies | Renovation of front and rear balconies |
| Concierge Agreement | yes |
| Intercom and Doorbell | Intercom and doorbell |
| Heating System | Electric baseboard heaters |
| Hot Water System | Independent Tank |
| Condition of Windows | Good condition |
| Condition of Kitchens | Good condition and several renovated |
| Electrical Panels | Circuit breakers |
| Exterior Siding | Brick |
| Condition of Bathrooms | Good condition and several renovated |
| Environmental Report | Phase 1 (2022) |
| Floor Covering | To be verified |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $1,048,152 | 100 % | $1,365 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $1,048,152 | $1,365 | |
| Vac. / Bad debt | $31,445 | 3 % | $41 |
| EGR | $1,016,707 | $1,324 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $50,835 | 5 % | $794 |
| Municipal Taxes | Current | $108,773 | 10.7 % | $1,700 |
| School Taxes | Current | $7,631 | 0.8 % | $119 |
| Insurance | Estimated | $38,000 | 3.7 % | $594 |
| Electricity | Current | $4,218 | 0.4 % | $66 |
| Heating | ||||
| Snow Removal | Current | $9,290 | 0.9 % | $145 |
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Estimated | $23,360 | 2.3 % | $365 |
| Maintenance | Normalised | $44,800 | 4.4 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $10,167 | 1 % | $159 |
| Caméra + internet | Current | $17,438 | 1.7 % | $272 |
| Total expenses | $314,512 | 30.9 % | $4,914 | |
| Net Revenue | $702,195 | $10,972 |
| schl | |
|---|---|
| Maximum loan amount | $15,087,999 |
| Financing CAP | 3.96 % |
| Debt coverage ratio | 1.1 |
| Interest Rate | 3.27 % |
| Amortization | 45 Years |
| Term | 5 Years |
| schl | |
|---|---|
| Net Revenue | $702,195 |
| Annual Mortgage Cost | $680,897 |
| Net cash after mortgage | $21,298 |
| RETURN ON INVESTMENT | |
| Down Payment | $3,212,001 |
| Cash on cash return | 0.7 % |
| Return on liquidity + capitalization | 5.7 % |
| Total yearly return with appreciation of 2 % | 17.06 % |
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