|Heating:||Gas, paid by landlord|
|Hot water:||Gas, paid by landlord|
|Land:||1,646.4 m² (17,721 ft²)|
Located in Cote-Des-Neiges, one of the densest boroughs in the island of Montreal, near all the services needed by tenants living in the area, a walk to all services with a phenomenal Walk Score of 91. Walk to metro Cote-Ste-Catherine and Metro Snowdon, St Mary’s Hospital, Jewish General Hospital. Near major universities: University of Montreal, HEC Montreal, Polytechnique Montreal, Concordia’s Loyola Campus.
Owned and operated by the same ownership group since 2012. Large units, with an ideal unit mix of 4 ½ and 3 ½ units. Indoor parking. The roof and furnace are newer.
Tremendous repositioning opportunity and rental increase (average 3 ½ in place rented $723 , average 4 ½ in place rented at $856). A repositioning of the residential suites has the opportunity to increase the rents by close to 50%. Once this is accomplished, the buyer will be able to pull out the entire down payment (see page 7 financial details).
This area of Montreal has seen strong population growth of 1.9% from 2014-2019, and has projected growth of 3.4% from 2019-2024, with a median age of just 37.6 and the perfect household average income of $72,4502. Market leading rents are being achieved in this sub-market, with low prevailing vacancy.
|Heating:||Electric, paid by tenants|
|Hot water:||Electric, paid by tenants|
|Land:||256.6 m² (2,762 ft²)|
Perfectly located in the MILE END, Plateau Mont-Royal, the densest borough on the island of Montreal with over 12,000 inhabitants per sq. km, 72% of whom are tenants. A walk from all the services - a 15 minute walk to Outremont Metro Station and general Walkscore of 98%. Highest concentration of 25-34 year olds, with most inhabitants having a collegiate level or above education.
Ideal investment for the care free investor who would rather “park” their money in an asset that runs itself. An ideal unit mix of 4 ½ and 3 ½ units. Retail tenant with a stable business that has been operating for years at this location, and four residential units, all paying their own heat and hot water. No common areas, no mechanical room, roof newer. The only expenses associated with this building are the property taxes and insurance, 50% of which are recuperated from the retail tenant.
Phenomenal rental increase opportunity for the residential tenants. Current average 3 ½ rented for $601 / month, the 4 ½ rented for$849 / month, which yields an approximate 47% rental increase potential. Owned and operated by the same ownership group since 2013.
This immediate area of Montreal has seen tremendous population growth of 4.8% from 2014-2019, and has projected growth of 5.0%from 2019-2024, with a median age of just 34.0 and an extremely high household income of $108,7032. Market leading rents are being achieved in this sub-market, with low prevailing vacancy and will continue to do so for many years to come.