Income Properties for Sale in Montreal
Baron has the most comprehensive listings of income properties for sale in Montreal. Our catalogue of apartment buildings includes properties in prime location. We assess a property’s value on more than just its appearance and location. When buying or selling income properties such as apartment buildings, it’s important to understand the big picture. Is there room to grow in the neighborhood? What attracts tenants to this area? Are their zoning policies that might affect the value of the property? These are just a few of the factors that we take into account.
With us, you not only get the asking price, our goal is to list the properties right, so that the buyer and the seller don’t waste time trying to figure out the right price. We also provide accurate return on investment calculations for our clients,the needed down payment to purchase,the cap rate, rental prices, potential upside in the rents, and perfect marketing material to help the buyers/investors truly understand and appreciate what they are buying.
Income property expertise
Baron Realty not only provides comprehensive listings, we also make sure that all of our investors are given access to our extensive expertise in Montreal’s income property world. Our years of experience on the ground is what sets us apart from the rest. We know exactly what you should expect out of an apartment building, where the best places to buy are, and what makes something appealing to investors, sellers, and tenants.
Baron Realty gives you the ability to see all of the details. This means that you get to see pictures, land dimensions, parking options, return on investment, similar properties sold, and the upside in the rents / expenses. We want to make sure you get the full picture before you make a decision.
With a focus on honesty, integrity, and in-depth knowledge of the industry, Baron Realty has become one of Montreal’s leading income property agencies. If you are looking for income properties for sale in Montreal, then you have come to the right place.
- Residential units: 26
- Floors: 4 + basement
- Asking price: $2,000,000.00
- Heating: Gas / Electric (bi-energy)
- Hot water: Gas / Electric (bi-energy)
- Land: 441.40 m² (4,751 ft²)
- Building size: 14.35 x 20.12 m (47.08 x 66.01 ft)
- Building floor area: 279.26 m² (3,005.9 ft²)
- Parking: 5 indoor spaces
- Year built: 1963
Established and 100% tenanted multi-family building in the borough of Parc-extension (Villeray-Saint-Michel-Parc-Extension). Just a few minutes drive from downtown Montreal, near Parc Metro Station and University of Montreal’s new Campus (“MIL”). Walking distance to Rockland Shopping Center, Jarry Park and Marche Central. Walkscore of 84 (source Walkscore.com).
The building offers tremendous upside in both the rents and heating: average in place unit rents are only $508 /month, indicating at least 16% upside in the rents to get to the average of the market. The average rents in place as of today are: $440 for the 1.5, $456 for the 2.5, and $537 for the 3.5 (heat & hot water paid by landlord). The heating in place (bi-energy, i.e. gas and hydro), is inefficient, thereby offering tremendous upside with a furnace conversion (current common area cost of $1,039 / unit / year for heat, hot water, and electricity).
Bright units as the building is a corner building with lots of windows. Recent updates / renovations: roof (2017), a lot of the plumbing is copper, many risers changed, all the electric panels are breakers. The bathrooms and kitchens are older, but in good shape. Same owner since 1990. This part of the city has seen steady population growth, estimated at 4.1% from 2012-2017 and has forecast growth of 3.4% from 2017-2022. The median population age is young at 36.6 years old, perfect for the proximity of the new University campus. Strong household average income of $73,911 for 2017 estimates (source Tetrad, 3km radius).