7-unit multi-residential building located at 487-489, 18th Avenue in La Guadeloupe, offering an interesting opportunity for an investor looking to acquire a rental asset in the Beauce region. The property currently offers potential for increased income following improvements made to the building. A property to consider for an investor seeking a multi-dwelling building with existing income and optimization potential.
Potential for increased income
Located in a quiet area
Recent exterior work and improvements
Outdoor storage spaces
Exterior facades
Sheet metal roof
Doors and windows
Balconies
Truss for each entrance
The sale is made without legal warranty of quality, at the buyer's risk and peril
A snow removal contract is available in the file
| Cadastral number | 5666503 |
| Total Municipal Assessment | 433 400 $ |
| Municipal Land Assessment | 53 300 $ |
| Municipal Building Assessment | 380 100 $ |
| Number of Storeys | 2 |
| Type of Building | Detached |
| Type of Construction | Wood |
| Year of Construction | 1981 |
| Fire System | Smoke detectors |
| Type of Parking | Outdoor |
| Number of Parking Spaces | ~16 spaces |
| Land Surface Area | 28 712 pi2 |
| Laundry Room | No |
| Number of Rooms | 7 units |
| Number of Units | 1 x 5.5 + 6 x 4.5 |
| Washer/Dryer Inlet | Yes |
| Appliance Responsibility | Tenants |
| Heating Responsibility | Tenants |
| Hot Water Responsibility | Tenants |
| Fenced | No |
| Internet and Telecom | No |
| Plumbing | Copper, PEX, ABS |
| Condition of Roof | Good condition - Sheet metal |
| Condition of Doors | Good condition |
| Condition of Balconies | Good condition |
| Concierge Agreement | No |
| Intercom and Doorbell | No |
| Heating System | Electric baseboards |
| Hot Water System | Independent tanks |
| Condition of Windows | Good condition |
| Condition of Kitchens | Good condition |
| Electrical Panels | Circuit breakers |
| Exterior Siding | Fiber cement and steel |
| Condition of Bathrooms | Good condition |
| Environmental Report | Phase 1 |
| Floor Covering | Floating, Vinyl |
| yearly | % / GR | RPU (m) | |
|---|---|---|---|
| Residential | $52,200 | 100 % | $621 |
| Affordable res. | |||
| Commercial | |||
| Lockers | |||
| Parking | |||
| Laundry | |||
| Total revenues | $52,200 | $621 | |
| Vac. / Bad debt | $1,566 | 3 % | $19 |
| EGR | $50,634 | $603 | |
| Calc. | yearly | % OF EGR | CPU (y) | |
|---|---|---|---|---|
| Administration | Normalised | $2,279 | 4.5 % | $326 |
| Municipal Taxes | Current | $9,214 | 18.2 % | $1,316 |
| School Taxes | Current | $252 | 0.5 % | $36 |
| Insurance | Current | $5,940 | 11.7 % | $849 |
| Electricity | Current | $255 | 0.5 % | $36 |
| Heating | ||||
| Snow Removal | ||||
| Elevator | ||||
| Lawn | ||||
| Structural reserve | ||||
| Janitor | Normalised | $1,750 | 3.5 % | $250 |
| Maintenance | Normalised | $4,900 | 9.7 % | $700 |
| Appliances | ||||
| WiFi | ||||
| Heat pump | ||||
| CHMC: Other Costs | Normalised | $506 | 1 % | $72 |
| Garbage | Current | $662 | 1.3 % | $95 |
| Total expenses | $25,758 | 50.9 % | $3,680 | |
| Net Revenue | $24,876 | $3,554 |
| schl | conv | |
|---|---|---|
| Maximum loan amount | $440,135 | $299,637 |
| Financing CAP | 4.80 % | 6.23 % |
| Debt coverage ratio | 1.1 | 1.25 |
| Interest Rate | 4.2 % | 4.5 % |
| Amortization | 40 Years | 25 Years |
| Term | 5 Years | 5 Years |
| schl | conv | |
|---|---|---|
| Net Revenue | $24,876 | $24,876 |
| Annual Mortgage Cost | $24,105 | $19,901 |
| Net cash after mortgage | $771 | $4,975 |
| RETURN ON INVESTMENT | ||
| Down Payment | $309,865 | $450,363 |
| Cash on cash return | 0.2 % | 1.1 % |
| Return on liquidity + capitalization | 1.8 % | 2.6 % |
| Total yearly return with appreciation of 2 % | 6.59 % | 5.92 % |
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