4930-4940 boulevard Édouard Monpetit Interested, more information please
- Residential units: 28
- Floors: 3 + basement
- Asking price: $4,700,000.00
- Heating: Gas, paid by landlord
- Hot water: Gas, paid by landlord
- Land: 1,646.4 m² (17,721 ft²)
- Building size: 30.92 x 28.95 m (101.4 x 94.9 ft)
- Building floor area: 2,672.3 m² (28,764 ft²)
- Parking: 10 indoor spaces
- Year built: 1955
Located in Cote-Des-Neiges, one of the densest boroughs in the island of Montreal, near all the services needed by tenants living in the area, a walk to all services with a phenomenal Walk Score of 91. Walk to metro Cote-Ste-Catherine and Metro Snowdon, St Mary’s Hospital, Jewish General Hospital. Near major universities: University of Montreal, HEC Montreal, Polytechnique Montreal, Concordia’s Loyola Campus.
Owned and operated by the same ownership group since 2012. Large units, with an ideal unit mix of 4 ½ and 3 ½ units. Indoor parking. The roof and furnace are newer.
Tremendous repositioning opportunity and rental increase (average 3 ½ in place rented $723 , average 4 ½ in place rented at $856). A repositioning of the residential suites has the opportunity to increase the rents by close to 50%. Once this is accomplished, the buyer will be able to pull out the entire down payment (see page 7 financial details).
This area of Montreal has seen strong population growth of 1.9% from 2014-2019, and has projected growth of 3.4% from 2019-2024, with a median age of just 37.6 and the perfect household average income of $72,4502. Market leading rents are being achieved in this sub-market, with low prevailing vacancy.