Samuel Lapointe
| Team Samuel & Jessika
Executive VP
|
Real Estate Broker | PMML Partner
Jessika Anne Ledingham
| Team Samuel & Jessika
Senior VP
|
Real Estate Broker | PMML Partner
A 6-unit apartment building (6 x 5½) offering excellent potential for optimization. One unit has been renovated and updated, and another has been refreshed, presenting a great opportunity to increase income in the medium term. Situated on a large lot and in a prime location, this building represents a great opportunity for an investor.
Strong short-term value-add potential
Excellent location
1 minute from Highway 15
1 renovated and modernized unit
1 refreshed unit
Front and rear balconies need to be replaced
Roof is over 20 years old
Window sills and some lintels need to be replaced
Windows need to be replaced
Eligible for CMHC MLI Select financing
This sale is made without legal warranty of quality, at the buyer's risk.
| Cadastral number | 2 139 468 |
| Total Municipal Assessment | 978 500 $ |
| Municipal Land Assessment | 226 800 $ |
| Municipal Building Assessment | 751 700 $ |
| Number of Storeys | 2 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1968 |
| Type of Parking | Exterior |
| Number of Parking Spaces | 6 spots |
| Land Surface Area | 11 500 sq ft |
| Laundry Room | N/A |
| Number of Units | 6 x 5.5 |
| Washer/Dryer Inlet | Yes |
| Appliance Responsibility | Tenant |
| Heating Responsibility | Tenant |
| Hot Water Responsibility | Tenant |
| There is a service contract for the lawn, which will be available along with the other documents during the due diligence process. | |
| Fenced | No |
| Internet and Telecom | No |
| Plumbing | Cast iron - Pex. - Copper |
| Condition of Roof | over 20 years old |
| Condition of Doors | To be replace |
| Condition of Balconies | To be redone |
| Concierge Agreement | No |
| Intercom and Doorbell | No |
| Heating System | Electric |
| Hot Water System | Electric |
| Condition of Windows | To be replaced |
| Condition of Kitchens | 2 renovated - 4 to be refreshed |
| Electrical Panels | Breaker and fuse for service |
| Exterior Siding | Brick |
| Condition of Bathrooms | 2 renovated - 4 to be refreshed |
| Environmental Report | N/A |
| Floor Covering | Parquetry - Floating - Ceramic |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $70,236 | 100 % | $976 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $70,236 | $976 | |
| Vac. / Bad debt | $2,107 | 3 % | $29 |
| EGR | $68,129 | $946 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $3,066 | 4.5 % | $511 |
| Municipal Taxes | Current | $9,744 | 14.3 % | $1,624 |
| School Taxes | Current | $629 | 0.9 % | $105 |
| Insurance | Current | $5,743 | 8.4 % | $957 |
| Electricity | Current | $337 | 0.5 % | $56 |
| Heating | ||||
| Snow Removal | Current | $1,196 | 1.8 % | $199 |
| Elevator | ||||
| Lawn | Current | |||
| Structural reserve | ||||
| Janitor | Normalised | $1,500 | 2.2 % | $250 |
| Maintenance | Normalised | $4,200 | 6.2 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $681 | 1 % | $114 |
| Total expenses | $27,097 | 39.8 % | $4,516 | |
| Net Revenue | $41,032 | $6,839 |
| schl | conv | |
|---|---|---|
| Maximum loan amount | $720,777 | $514,835 |
| Financing CAP | 4.84 % | 5.98 % |
| Debt coverage ratio | 1.1 | 1.2 |
| Interest Rate | 4.25 % | 4.5 % |
| Amortization | 40 Years | 25 Years |
| Term | 5 Years | 5 Years |
| schl | conv | |
|---|---|---|
| Net Revenue | $41,032 | $41,032 |
| Annual Mortgage Cost | $39,624 | $34,194 |
| Net cash after mortgage | $1,408 | $6,839 |
| RETURN ON INVESTMENT | ||
| Down Payment | $374,223 | $580,165 |
| Cash on cash return | 0.4 % | 1.2 % |
| Return on liquidity + capitalization | 2.4 % | 3.2 % |
| Total yearly return with appreciation of 3.31 % | 12.07 % | 9.4 % |
To see the detailed rent rolls of this building, you need to be connected.