- Residential units: 36
- Floors: 3
- Asking price: $6,100,000.00
- Heating: Electric (tenant paid)
- Hot water: Electric (tenant paid)
- Land: 2,737.60 m² (29,467.28 ft²)
- Building size: 65.92 x 15.27 m (216.27 x 50.1 ft)
- Building floor area: 3,568.50 m² (38,411.01 ft²)
- Parking: None
- Year built: 1953
Masterfully renovated, this unique asset has been brought to “condo quality” in terms of suites, exterior and common areas. The list of recent renovations is extensive: Doors, frames, windows and balconies were replaced, common areas were updated, painted, and cleaned, the façade was upgraded to stone & aluminum, and all panels changed to breakers. Every apartment was renovated and feature solid surface counters, stainless steel stove, fridge, dishwasher and integrated microwave. Every unit has a washer and dryer in-suite. Many units have 1.5 baths (a bathroom + a powder room off the hallway).
Care-free value proposition by simply continuing to raise unit rents as tenants move out. Currently, the average unit rent is just $978 / month indicating over 20% gross rental upside (see Rent Roll analysis on Pg. 8 for details). This area of Saint-Laurent has seen excellent population growth, estimated at 4.2% from 2013-2018 and has forecast growth of 2.9% from 2018-2023. The median age is 43.3 years old. Exceptional household average income of $107,838 (Source Tetrad, 1 Km radius).
Highly accessible location. 10-minute walk to Du College Metro Station. A walk to CEGEP de Saint-Laurent, and Vanier College. Bus numbers 124 and 128 service the building, with direct access to Du College, Cote Vertu, Plamondon, Cote Sainte Catherine, and Vendome Metros (the Super Hospital Glen site). This asset is offered free-and-clear, allowing the buyer to place new debt at todays favourably low rates.