This semi-commercial building offers excellent redevelopment potential for the construction of a new multi-residential building. Studies have been conducted proposing various development scenarios ranging from 16 to 26 units, including two commercial spaces, with or without underground parking. The currently profitable building comprises two 5½, three 3½, as well as a commercial space. Situated on a lot of over 14,000 sq ft, it offers ample space for a large-scale project. Energy costs are borne by the tenants. Strategically located in the city center, close to all amenities. The city is very receptive to your project! The buyer will need to validate the feasibility of their project with the relevant authorities.
Strategic location near all services.
Potential subsidy to be verified with the City.
Large lot of 14,002.77 sq ft with redevelopment potential.
The zoning has been modified for M40 allowing a maximum of 24 dwellings per building.
Apartment renovation.
Staircase refurbishment on the left side.
Commercial premises update.
The sale is made without legal guarantee of quality at the buyer's own risk.
The location certificate mentions encroachments, overhangs, easements and minor deviations.
| Cadastral number | 4 161 836 |
| Total Municipal Assessment | 292 700 $ |
| Municipal Land Assessment | 65 700 $ |
| Municipal Building Assessment | 227 000 $ |
| Number of Storeys | 3 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1948 |
| Fire System | Smoke detector |
| Type of Parking | Exterior |
| Number of Parking Spaces | Large |
| Land Surface Area | 14 002 sq.ft |
| Laundry Room | No |
| Number of Rooms | 16 + commercial space |
| Number of Units | 2 x 5.5 + 3 x 3.5 + 1 commercial space |
| Washer/Dryer Inlet | Yes |
| Appliance Responsibility | Tenants |
| Heating Responsibility | Tenants |
| Hot Water Responsibility | Tenants |
| Fenced | N/A |
| Internet and Telecom | No |
| Plumbing | Steel, copper and ABS |
| Condition of Roof | Asphalt shingles |
| Condition of Doors | Medium |
| Condition of Balconies | Good and medium condition |
| Concierge Agreement | Yes, without contract |
| Intercom and Doorbell | Independent entrances |
| Heating System | Electric baseboards |
| Hot Water System | Independent tanks |
| Condition of Windows | Medium |
| Condition of Kitchens | Medium |
| Electrical Panels | Circuit breakers and fuses |
| Exterior Siding | Brick, aggregate, aluminum and wood |
| Condition of Bathrooms | Medium |
| Environmental Report | No |
| Floor Covering | Floating Floor | Hardwood | Ceramic |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $50,352 | 73.7 % | $699 |
| Affordable res. | |||
| Commercial | $18,000 | 26.3 % | $250 |
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $68,352 | $949 | |
| Vac. / Bad debt | $2,051 | 3 % | $28 |
| EGR | $66,301 | $921 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $2,984 | 4.5 % | $497 |
| Municipal Taxes | Current | $9,147 | 13.8 % | $1,525 |
| School Taxes | Current | $276 | 0.4 % | $46 |
| Insurance | Current | $6,064 | 9.1 % | $1,011 |
| Electricity | ||||
| Heating | ||||
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $1,500 | 2.3 % | $250 |
| Maintenance | Normalised | $4,200 | 6.3 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $663 | 1 % | $111 |
| Total expenses | $24,834 | 37.5 % | $4,139 | |
| Net Revenue | $41,468 | $6,911 |
| Maximum loan amount | $499,486 | $555,175 |
| Financing CAP | 6.23 % | 6.35 % |
| Debt coverage ratio | 1.25 | 1.3 |
| Interest Rate | 4.5 % | 5.0 % |
| Amortization | 25 Years | 40 Years |
| Term | 5 Years | 5 Years |
| Net Revenue | $41,468 | $41,468 |
| Annual Mortgage Cost | $33,174 | $33,896 |
| Net cash after mortgage | $8,294 | $7,572 |
| RETURN ON INVESTMENT | ||
| Down Payment | $299,514 | $243,825 |
| Cash on cash return | 2.8 % | 3.1 % |
| Return on liquidity + capitalization | 6.5 % | 5.1 % |
| Total yearly return with appreciation of 2 % | 11.82 % | 11.63 % |
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