Beautiful 6-unit building for an optimizer, offering 30 feet of frontage and located in a peaceful and sought-after area of Hochelaga-Maisonneuve, only 10 minutes by bus from Viau metro station. The property includes 6 x 4½ units of approximately 800 sq ft each (double room in front + bedroom in back). One VACANT unit, ready to be renovated and repositioned on the market. All energy costs are assumed by the tenants. Well-maintained building with several major works carried out over the years. Simple, hassle-free management, with stable and quiet tenants. Excellent income optimization potential for an investor seeking a well-located, easy-to-manage property.
IMPORTANT: REAR FOUNDATION WALL TO BE REBUILT. REPORT AND QUOTE AVAILABLE.
IMPORTANT: REAR FOUNDATION WALL TO BE REBUILT. REPORT AND QUOTE AVAILABLE.
1 vacant unit
Viau metro station approximately 10 minutes by bus
Several units renovated over the years
Spacious units, sought-after configuration
The 2 ground floor units each benefit from a beautiful private backyard
Peaceful and well-served residential area, with easy street parking in the area
Before 2005: front facade brick repair
2013: new roof (tar, white gravel)
2017: replacement of balconies/steps, soffits, fascias and gutters
2019: piling/stabilization of the front foundation wall by Héneault et Gosselin ($50,000)
2023: replacement of 5 x 40-gallon water heaters (6th in 2021)
2025: major crawl space remediation and encapsulation, including mold treatment, drainage membrane, and dehumidifier ($25,000)
Current rents significantly below market for 4½ units of this configuration. Median: $975/month. Mid-term income optimization potential.
The sale is made without legal warranty of quality, at the buyer's risk and peril.
| Cadastral number | 1363052 |
| Total Municipal Assessment | 991 000 $ |
| Municipal Land Assessment | 326 900 $ |
| Municipal Building Assessment | 664 100 $ |
| Number of Storeys | 3 |
| Type of Building | Row house |
| Type of Construction | Brick and wood |
| Year of Construction | 1924 |
| Fire System | No |
| Type of Parking | exterior |
| Number of Parking Spaces | 0 |
| Land Surface Area | 3060 sq ft |
| Laundry Room | No |
| Number of Rooms | 24 |
| Number of Units | 6 |
| Washer/Dryer Inlet | In each unit |
| Appliance Responsibility | Tenants |
| Heating Responsibility | Tenants |
| Hot Water Responsibility | Tenants |
| Internet and Telecom | Not included |
| Plumbing | Copper, ABS |
| Condition of Roof | Good condition. 2013 - tar and white gravel |
| Condition of Doors | Good condition. 4 back doors replaced |
| Condition of Balconies | 2010 and 2017. One back balcony will be replaced in the coming weeks. |
| Concierge Agreement | No |
| Intercom and Doorbell | Doorbell |
| Heating System | Electric baseboards |
| Hot Water System | Independent tanks |
| Condition of Windows | Excellent condition |
| Condition of Kitchens | Good condition - 4/6 refreshed or renovated |
| Electrical Panels | 100 AMP circuit breakers |
| Exterior Siding | Brick |
| Condition of Bathrooms | Good condition - 4/6 refreshed or renovated |
| Environmental Report | No |
| Floor Covering | Hardwood, ceramic, marquetry, vinyl |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $77,340 | 100 % | $1,074 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $77,340 | $1,074 | |
| Vac. / Bad debt | $2,320 | 3 % | $32 |
| EGR | $75,020 | $1,042 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $3,376 | 4.5 % | $563 |
| Municipal Taxes | Current | $5,853 | 7.8 % | $976 |
| School Taxes | Current | $665 | 0.9 % | $111 |
| Insurance | Current | $3,113 | 4.1 % | $519 |
| Electricity | ||||
| Heating | ||||
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $1,500 | 2 % | $250 |
| Maintenance | Normalised | $4,200 | 5.6 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $750 | 1 % | $125 |
| Total expenses | $19,457 | 25.9 % | $3,243 | |
| Net Revenue | $55,563 | $9,260 |
| Conventionnel | ||
|---|---|---|
| Maximum loan amount | $824,250 | $934,150 |
| Financing CAP | 4.93 % | 4.80 % |
| Debt coverage ratio | 1.1 | 1.1 |
| Interest Rate | 4.4 % | 4.2 % |
| Amortization | 30 Years | 40 Years |
| Term | 5 Years | 5 Years |
| Conventionnel | ||
|---|---|---|
| Net Revenue | $55,563 | $55,563 |
| Annual Mortgage Cost | $49,298 | $50,972 |
| Net cash after mortgage | $6,265 | $4,591 |
| RETURN ON INVESTMENT | ||
| Down Payment | $274,750 | $164,850 |
| Cash on cash return | 2.3 % | 2.8 % |
| Return on liquidity + capitalization | 7.2 % | 8.8 % |
| Total yearly return with appreciation of 2 % | 15.24 % | 22.1 % |
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