|Land:||1,117.30 m² (12,026.52 ft²)|
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.
|Heating:||Electric (tenant paid)|
|Hot water:||Electric (tenant paid)|
|Land:||704.8 m² (7,586.40 ft²)|
Exceptional rents are being achieved in this sub-market, with CMHC reporting only a 2.8% overall vacancy rate as of October 2018. Current rents are approximately 20.4% below market (Baron Realty analysis), offering excellent upside to the prospective purchaser. Units are fully sub-metered for heating (electric), hot water (tanks in each unit), and hydro (all at Tenants’ cost).
Each unit has an in-suite laundry hook-up (located in a closed space); Landlord does not provide appliances (Tenant-owned). The intercom lines run to apartments directly (not via phone lines). The main water line to the building was replaced in 2015. Panels are breakers. The roof was redone in 2014. A Phase 1 environmental report is available from 2014.
The immediate location has seen strong population growth of 3.6% from 2013-2018, and has a projected growth of 2.0% from 2018-2023. This area of Rosemont has a median age of 39.4 and household average income of $57,925 (Tetrad | 1 Km radius).
|Land:||9,790.00 m² (105,378.70 ft²)|
Baron Realty, Brokerage has been retained on an exclusive basis to arrange the sale of a 2.419 acre land parcel with zoning approval for 28 townhome units. This is a rare infill development opportunity in an affluent area of North Niagara Falls with easy access to the QEW.
Part of lot 35 TWP of Stamford Being Part 1 On 59R13502; Niagara Falls.
9,790.00 m2 | 105,378.70 ft2 | 2.419 Acres ±
82.122 m x 122.347 m (269.43 ft X 401.40 ft) Irregular ±
Grouped Multiple Dwellings (R4-749) under By-law No. 79-200.
Household Income: $113,686. Median Age: 49.9. Forecast Population Growth: 2.5% (2018-2023)
A 300 mm PVC water main with a lateral hookup is available on Mewburn. A 250 mm PVC sanitary main is available on Mewburn with a lateral hookup available. No storm sewer is in place, only ditching.
The Vendor’s expectation is that all Due Diligence Material will be reviewed by prospective purchasers prior to the submission of an Agreement of Purchase and Sale. All offers to provide proof of funds for down payment within five (5) days of accepted offer, or offer null and void. The Vendor will also look favourably on limited DD periods, substantial deposits, and firm offers.
Upon execution of the attached Confidentiality Agreement, prospective purchasers will be granted access to an online Data Room. The documents found within this folder represent all the documents available, with additional due diligence documentation the responsibility of the purchaser.
Please click to see flyer, and CA to receive access to the Sharefile
|Heating:||Electric (tenant paid)|
|Hot water:||Electric (tenant paid)|
|Land:||786.90 m² (8,470.12 ft²)|
Ideally located in Côte-des-Neiges near Plamondon Metro, University of Montreal, HEC Montreal, Walmart, and The Triangle, and serviced by numerous bus routes.
Exceptional market rents are being achieved in this sub-market, with CMHC reporting only a 2.0% vacancy as of October 2018, and average rents 30% above current rent roll. The building’s average rent is $707, while CMHC reports that as of October 2018 these same units should average at least $917 on average. Electric, Water, and Heat are sub metered to each tenant (except for the one 2 ½ unit).
The roof was replaced in 2017 and has a 15-year warranty. The brickwork on front façade and back wall was repointed in 2018. Electric panels are breakers. Hot water tanks are owned. Only three units are in the basement, where the laundry room and workshop/storage room is also located. Drain has been replaced in the basement of 4400 Ave Barclay.
The immediate location has seen strong population growth of 3.7% from 2013-2018, and has projected population growth of 1.9% estimated from 2018-2023. This area of Côte-des-Neiges has a median age of 35.4 years old and strong household average income of $53,753.(Source Tetrad, 1 Km radius)
|Land:||5,756 m² (61,954 ft²)|
|Parking:||51 indoor, 54 outdoor|
With 106 units over three buildings and the same ownership since 1985, this asset offers an exceptional opportunity both in terms of its scale, and potential rental upside. Located on a park-like parcel of land in LaSalle, the buildings have received substantial Capital Expenditures over the years and present an ideal opportunity to greatly improve revenues through new management. Ample parking: 51 interior and 54 exterior stalls.
The buildings offer a unit mix composed of: 16 4½, 74 3½ (16 of which are extra large), 2 2½, and 14 1½ units, which aligns well with the rental demand in this area of the City. Review of the current rent roll (pg. 8) shows some 47% rental upside upon unit turnover (average unit rent is just $630 / month). The market rent for each unit type are as follows: 4½ units potential $950 (current average at building $699). 3½ (Extra Large) units potential $900 (current average at building $682). 3½ units potential $875 (current average at building $629).
Key capital improvements have been completed in recent years, including the replacement of 104 doors, 248 windws, 75 balconies, 75 bathrooms, 6 furnaces, 3 garage doors and 106 breaker panels. The roofs on all three buildings have been replaced, and the brick work repointed. The asphalt has been replaced along with the security system in each building.
Idyllically located just a short walk from Rene Levesque Park, along with numerous other smaller parks this location has an exceptional Bike Score of 93, and a strong Walk Score of 54. (Source Walkscore.com) The immediate location has also seen above normal population growth of 15.1% from 2013-2018, and has projected population growth of 14.5% estimated from 2018-2023. (Source Tetrad, 2 Km radius) In recent years there has been substantial development in LaSalle, with both rental and condo projects in the Borough. This has helped drive rents upward. Just a 10 minute walk, or 2 minute drive to Gare LaSalle. Near Collège Sainte-Anne, LaSalle City Hall, and a number of neighbourhood amenities. Bus numbers 495 and 110 service the buildings, however there is substantial parking on site. This area of LaSalle has a median age is 39.5 years old and strong household average income of $62,324. (Source Tetrad, 2 Km radius)