Six-unit income property located in the heart of La Baie, in a sought-after area known for its tranquility and proximity to services. The building was constructed in 1946 and consists of four 3½ units, one 4½ unit, and one 5½ unit. The building is located on a 1,177 sq. ft. lot. The building is fully rented. Well located, various services such as grocery stores and restaurants are nearby within a radius of less than 1 km.
Approximate income-to-expense ratio of 35%
Attractive area, close to services
Currently at 100% occupancy
Stable income
The sale is made without legal warranty of quality to the risks and perils of the buyer
Certificate of location 2020 and no exterior modifications since
Possibility of gradually increasing rent in line with the market
| Cadastral number | 3344901 |
| Total Municipal Assessment | 335 300 $ |
| Municipal Land Assessment | 64 900 $ |
| Municipal Building Assessment | 270 400 $ |
| Number of Storeys | 2 |
| Type of Building | Detached |
| Type of Construction | Wood and Vinyl |
| Year of Construction | 1946 |
| Medium-sized building, larger than a duplex and easier to manage than a 12-unit building. Beautiful building renovated over the years, well maintained, an opportunity not to be missed for those looking to get started in real estate. | |
| Fire System | Smoke detectors |
| Type of Parking | Exterior |
| Number of Parking Spaces | 8 |
| Land Surface Area | 12 669 Sq Ft |
| Laundry Room | A washer and dryer are available free of charge in the basement for tenants. |
| Number of Rooms | 4 x 3.5 + 1 x 4.5 + 1 x 5.5 |
| Number of Units | 6 |
| Washer/Dryer Inlet | only in 4.5 and 5.5 |
| Appliance Responsibility | 3x 3.5 are semi-furnished |
| Heating Responsibility | 4 x 3.5 heated and lit, and 4.5 and 5.5 are unheated and unlit. |
| Hot Water Responsibility | 4.5 and 5.5 are responsible for the hot water costs. |
| Fenced | No |
| Internet and Telecom | No |
| Plumbing | Copper |
| Condition of Roof | Good condition |
| Condition of Doors | Good condition |
| Condition of Balconies | Good condition |
| Concierge Agreement | No |
| Intercom and Doorbell | No |
| Heating System | Electric baseboard heaters |
| Hot Water System | Shared hot water tank for the 3.5, 4.5, and 5.5 models. Each has its own tank. |
| Condition of Windows | Good condition |
| Condition of Kitchens | Good condition |
| Electrical Panels | To be validated during inspection |
| Exterior Siding | PVC |
| Condition of Bathrooms | Good condition |
| Environmental Report | No |
| Floor Covering | Floating floor - ceramic |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $65,520 | 97.3 % | $910 |
| Affordable res. | |||
| Commercial | |||
| Lockers | $1,800 | 2.7 % | $25 |
| Parking | |||
| Laundry | |||
| Total revenues | $67,320 | $935 | |
| Vac. / Bad debt | $2,020 | 3 % | $28 |
| EGR | $65,300 | $907 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $2,939 | 4.5 % | $490 |
| Municipal Taxes | Current | $7,753 | 11.9 % | $1,292 |
| School Taxes | Current | $207 | 0.3 % | $35 |
| Insurance | Current | $4,022 | 6.2 % | $670 |
| Electricity | Current | $3,111 | 4.8 % | $519 |
| Heating | ||||
| Snow Removal | Estimated | $829 | 1.3 % | $138 |
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $1,500 | 2.3 % | $250 |
| Maintenance | Normalised | $4,200 | 6.4 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $653 | 1 % | $109 |
| Total expenses | $25,214 | 38.6 % | $4,202 | |
| Net Revenue | $40,087 | $6,681 |
| Maximum loan amount | $540,393 |
| Financing CAP | 4.00 % |
| Debt coverage ratio | 1.3 |
| Interest Rate | 4.0 % |
| Amortization | 30 Years |
| Term | 5 Years |
| Net Revenue | $40,087 |
| Annual Mortgage Cost | $31,843 |
| Net cash after mortgage | $8,244 |
| RETURN ON INVESTMENT | |
| Down Payment | $248,607 |
| Cash on cash return | 3.3 % |
| Return on liquidity + capitalization | 7.3 % |
| Total yearly return with appreciation of 2 % | 13.64 % |
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