- Residential units: 35
- Floors: 6
- Asking price: $0.00
- Heating: Gas
- Hot water: Gas
- Land: 1,117.30 m² (12,026.52 ft²)
- Building size: 28.17 X 25.62 m (92.42 X 84.06 ft)
- Building floor area: 3,708.2 m² (39,914.73 ft²)
- Parking: 19 indoor spaces
- Year built: 1960
CALL FOR OFFERS SEPTEMBER 6TH, 2019
Corner building, 100% occupied and exceptionally located near Queen Mary & Villa-Maria Metro. Near HEC Montreal, and mid-way between Hampstead & The Triangle. Nearby parks include MacDonald Park, Ellerdale Park and Parc Paul-Doyon. Strong Walkscore of 921, on numerous bus routes; walking distance to many shops, cafes, Monkland Village and two Metro Stations.
The current owner has been managing the property since 2007, granting the opportunity to bring new management techniques to the building. Approximately 80% of bathrooms and kitchens have been updated. The gravel roof is older, but in good shape. Some interior parking is currently rented to non-tenants, however the landlord has the right to take back those spaces if needed. Landlord provides fridge and stoves.
The immediate location has seen strong population growth of 3.8% from 2014-2019, and has projected growth of 3.6% from 2019-2024. This area of NDG has a median age of 39.5 and high household average income of $103,7252. Market leading rents are being achieved in this sub-market, with low prevailing vacancy. Current rents are at least 35.6% below market (Baron Realty Rental Survey), offering excellent upside to the prospective purchaser while retaining excellent quality tenants willing to pay top rents.