- Residential units: 9
- Floors: 3 + basement
- Asking price: $2,200,000.00
- Heating: Gas (owner paid)
- Hot water: Gas (owner paid)
- Land: 371.60 m² (3,999.87 ft²)
- Building size: 0 x 0 m (0 x 0 ft)
- Building floor area: 758.10 m² (8,160.12 ft²)
- Parking: 4 indoor spaces and 1 outdoor
- Year built: 1931
Stunning large corner building. Character building built in 1931 with numerous original features (stained glass, wood trim) and spacious suites. Ideally located in Ville-Marie just 2 blocks East of Parc La Fontaine, at the Intersection of the borough of Plateau Mont Royal (South of Sherbrooke East is Ville-Marie, North is Plateau Mont-Royal). Near Hospital Notre-Dame, countless restaurants, amenities, bus stops, and numerous schools. A walk to Papineau Metro Station. A short bus ride to the City Centre. Exceptional Walkscore of 93 (Source Walkscore.com). A walk to everything.
Units in this building are large and spacious, well updated, and retain much of their character. This building offers not only excellent current rents, but clear rental upside upon unit turnover. Currently, the average in place unit rent is $1,408 / month, indicating potentially over 25% gross rental upside. The current average rents based on unit size are: $597 for the 1.5, $1,448 for the 4.5, $1,110 for the 5.5, and $2,330 for the 7.5. Additionally, the hydro bill for unit 1950C is currently paid by the Landlord, which can be moved to the tenant upon turnover.
This part of the city has seen steady population growth, estimated at 3.4% from 2013-2018 and has forecast growth of 2.2% from 2018-2023. The median age is just 35.4 years old. Strong household average income of$62,636 for 2018 estimated, indicating a great base of renters. 48% of the population is between ages 20 and 39 (Source Tetrad, 1 Km radius). Demographics in this area support a renter profile willing to pay top rents for unique apartments.