Attention investors! This 8-unit, 2-bedroom apartment building meets strong rental demand and ensures stable income. Units are currently unheated and unlit. Includes 8 parking spaces. Roof and windows replaced in 2019. Excellent profitability with potential for further revenue growth. The building was completely rebuilt in 2019. A rare find on the market.
Certified appraisal report available.
Financing available through APH Select energy-efficient financing.
The building was completely rebuilt in 2019 to current building standards.
Each unit has its own washer/dryer hookups, a highly desirable feature for tenants.
Major renovation of the building in 2019
This sale is made without legal warranty of quality, at the buyer’s risk.
| Cadastral number | 1 089 251 |
| Total Municipal Assessment | 1 299 600 $ |
| Municipal Land Assessment | 331 300 $ |
| Municipal Building Assessment | 968 300 $ |
| Number of Storeys | 3 |
| Type of Building | Detached |
| Type of Construction | Brick and wood |
| Year of Construction | 1969 |
| Fire System | Up to code |
| Type of Parking | Outdoor |
| Number of Parking Spaces | 8 spots |
| Land Surface Area | 6 563 sq.ft. |
| Laundry Room | No |
| Number of Units | 8 x 4.5 |
| Washer/Dryer Inlet | Yes |
| Appliance Responsibility | According to leases |
| Heating Responsibility | Tenants |
| Hot Water Responsibility | Tenants |
| Plumbing | PVC |
| Condition of Roof | Elastomeric membrane - 2019 |
| Condition of Doors | Good |
| Condition of Balconies | Good |
| Concierge Agreement | No |
| Intercom and Doorbell | Yes |
| Heating System | Electric baseboards |
| Hot Water System | Hot water tank |
| Condition of Windows | PVC, sliding |
| Condition of Kitchens | Good Condition |
| Electrical Panels | Breaker |
| Exterior Siding | Brick |
| Condition of Bathrooms | Good Condition |
| Environmental Report | Phase 1 - 2019 |
| Floor Covering | Laminated floor, ceramic |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $140,400 | 100 % | $1,463 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $140,400 | $1,463 | |
| Vac. / Bad debt | $4,212 | 3 % | $44 |
| EGR | $136,188 | $1,419 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $6,128 | 4.5 % | $766 |
| Municipal Taxes | Current | $13,448 | 9.9 % | $1,681 |
| School Taxes | Current | $937 | 0.7 % | $117 |
| Insurance | Current | $6,843 | 5 % | $855 |
| Electricity | Current | $575 | 0.4 % | $72 |
| Heating | ||||
| Snow Removal | Current | $960 | 0.7 % | $120 |
| Elevator | ||||
| Lawn | Current | $450 | 0.3 % | $56 |
| Structural reserve | ||||
| Janitor | Normalised | $2,000 | 1.5 % | $250 |
| Maintenance | Normalised | $5,600 | 4.1 % | $700 |
| Appliances | ||||
| WiFi | Current | $469 | 0.3 % | $59 |
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $1,362 | 1 % | $170 |
| Eau chaude | Current | $2,024 | 1.5 % | $253 |
| Total expenses | $40,796 | 30.0 % | $5,100 | |
| Net Revenue | $95,392 | $11,924 |
| schl | |
|---|---|
| Maximum loan amount | $1,776,540 |
| Financing CAP | 4.00 % |
| Debt coverage ratio | 1.1 |
| Interest Rate | 3.85 % |
| Amortization | 40 Years |
| Term | 5 Years |
| schl | |
|---|---|
| Net Revenue | $95,392 |
| Annual Mortgage Cost | $91,539 |
| Net cash after mortgage | $3,853 |
| RETURN ON INVESTMENT | |
| Down Payment | $373,460 |
| Cash on cash return | 1.0 % |
| Return on liquidity + capitalization | 6.5 % |
| Total yearly return with appreciation of 2 % | 17.97 % |
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