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Income Property Real Estate Agency
1451-1465 rue la Fontaine, Ville-Marie Interested, more information please
  • Residential units: 15
  • Floors: 3
  • Asking price: $2,250,000.00
  • Heating: Electric baseboard
  • Hot water: Electric
  • Land: 603.7 m² (6,498.17 ft²)
  • Parking: None

In excellent shape and 100% occupied, this multi-family asset in the borough of Ville-Marie is just a few minutes from downtown Montreal and adjacent to two subway stations (Papineau and Beaudry). WalkScore of 97 (tenants have no need for cars - source Walkscore.com).

Large, bright, well maintained units with lots of windows. Average in place unit rents as of December 2018 are only $861 /month, indicating strong rental upside; tenants paying their own water, heat and hydro (breaker panel in each unit). Average rents by size are: $729 for the 3.5, $883 for the 4.5, $1,020 for the 5.5 and $985 for the 6.5.

Pride of ownership in maintenance and upgrades shows throughout - same owner since 1989. Recent updates /renovations: Unit 1817: kitchen & bathroom, Unit 1823: washroom, Unit 1801: full renovation, Unit 1455: bathroom, Unit 1451: full renovation, Unit 1461: bathroom, Unit 1465: kitchen. When renovated, units received newly crystalized & varnished floors. All but one tenant provides their own washer, dryer (in unit), and appliances.

This part of the city has seen excellent population growth, estimated at 6.0% from 2013-2018, and has forecast growth of 6.0% from 2018-2023. The median population age is young at 36.7 years old. Strong household average income of $60,461 for 2018 estimated (source Tetrad, 1 Km radius).

The 15 units are: 7 X 3 1/2 , 2 X 4 1/2 , 4 X 5 1/2 and 2 X 6 1/2

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