- Residential units: 20
- Floors: 3 + basement
- Asking price: $2,719,000.00
- Heating: Electric (tentant paid)
- Hot water: Electric (tentant paid)
- Land: 1,145.6 m² (12,331.14 ft²)
- Building size: 23.98 x 12.23 m (78.67 x 40.12 ft)
- Building floor area: 881.3 m² (9,486.23 ft²)
- Parking: 4 indoor spaces and 12 outdoor
- Year built: 1950
3 BUILDING PORTFOLIO. 3170 AVE. BARCLAY CAN BE SOLD SEPARATELY, ASKING $899,000.
Ideally located in Côte-Des-Neiges—Notre-Dame-De-Grâce this asset offers substantial rental upside with in-place rents being well below market. The same owners have owned this property since 1998. Wood and Brick building built in 1950 with key upgrades completed in recent years. Across from the rehabilitation centre called Intégrale Universitaire de Santé et des Services Sociales (CIUSSS) and a walk to University of Montreal, HEC Montreal, and numerous parks. A short walk to CHU Sainte Justine Hospital, Jewish General Hospital, Metro Plamondon, Plaza Cote Des Neiges. Exceptional Walkscore of 87 (Source Walkscore.com). A walk to everything.
Key improvements have been completed in recent years, including replacing the underground main sewer pipe, and replacement of the window lintels on the back and sides of the building. Almost the entire building has copper piping. Roofs are approximately 15 years old (no receipts available). Eight units have been upgraded by the current owner, who has also replaced the windows and patio doors. Balconies have been updated. The building has four indoor parking stalls which offer revenue potential (currently used by the owner). This building offers clear rental upside upon unit turnover. Currently, the average unit rent is just $551 / month, indicating potentially over 41%gross rental upside. The current average rents based on unit size are: $522 for the 3.5’s and $573 for the 4.5’s.
This area of Côte-Des-Neiges seen steady population growth, estimated at 0.5% from 2013-2018 and has forecast growth of 2.0% from 2018-2023. The median age is just 34.9 years old. Strong household average income of$77,515. (Source Tetrad, 1 Km radius).