514-932-9000 | 416-637-6007
Income Property Real Estate Agency
Residential units: 94
Floors: 2
Asking price: $9,400,000.00
Gross revenues: $698,140.00
Net income: $364,093.00
Cap rate: 3.87%
Heating: Gas
Hot water: Gas
Land: 2,570.1 m² (17,916 ft²)
Parking: 92 indoor

Rare opportunity to own 94 units with incredible upside in the Ville Saint Laurent market. Easy-access to Hwy 15, Hwy 40 and Hwy 13 and direct access to Du College Metro Station via bus 202. Large and bright apartments in clean and professionally managed buildings. Excellent location near all services with a Walk Score of 72 (source Walkscore.com). Close to several employment hubs. The neighbouring properties are smaller plexes. The buildings are built between 1976 and 1978 as per the city of Montreal.

Significant upside in rents. The average rents in place as of January 2018 are: $580 for the 2.5, $635 for the 3.5 and $693 for the 4.5 and $410 for the 5.5. Heat & water are included in the rents. Heating is via older, less efficient furnaces offering savings on replacement. 92 underground parking stalls offer a substantial opportunity to add additional revenue. Many current tenants have their own washing machines-opportunity for correction. The roofs have been well maintained, with additional gravel added as needed. Heating and hot water are gas (owner paid), the tenants pay their own electricity.

This part of the city has seen exceptional population growth, estimated at a phenomenal 12.0% from 2012-2017 and has forecast population growth of 8.0% from 2017-2022. The median population age is excellent at 37.1 years old. Strong household average income estimated at $77,428 for 2017 (source Tetred, 1 Km radius). With 4,600 different companies and 105,000 jobs, this borough of Ville Saint Laurent is the second most important in Montreal for employment after downtown Montreal (source of information, Ville de Montréal, arrondissement de Saint-Laurent).

Residential units: 27
Floors: 3
Asking price: $2,449,000.00
Gross revenues: $237,193.00
Net income: $117,547.00
Cap rate: 4.8%
Heating: Gas
Hot water: Gas
Land: 773.9 m² (8,330 ft²)
Parking: 5 indoor

The perfect Multi-family building, on Van Horne Avenue. Owned by the same family since 1987. Excellent location. Walk score of 89 (note3). One block from Plamondon Metro Station as well as the Victoria / Van Horne shopping centre. A walk to the Jewish General hospital. A lot of upside in the rents. The in place residential and commercial rents are below market rents by close to 10%. Recent updates / renovations include: balcony doors, windows, balconies, mailboxes, roof, brick work, front entrance door, railings, electric panels, hot water tank, gas furnace. Many of the tenants have been here for many years, hence the bathrooms and kitchens are older in many of the units.

This part of the city has seen steady population growth, estimated at 2.8% from 2011-2016 and 2.9% from 2016-2021. The median population age is very young and vibrant at 34.4 years old (Note 1). The Cote-des-Neiges borough is home to many of Montreal’s landmarks, destinations including: 3 major hospitals, Jewish General Hospital, Saint Mary’s Hospital, CHU Sainte Justine, Colleges Notre Dame, Jean de Brebeuf, The Oratoire Saint-Joseph, University of Montreal, HEC and many more destinations. Ease of transport, proximity to downtown Montreal makes the Cote-des-Neiges borough an easy choice for the tenants to live in which is why with its 166,520 inhabitants on 21.4 sq. Km. this borough ranks number 1 amongst Montreal’s 19 boroughs for population size.

To get more information about our listings or for an opinion of value on your commercial asset

*For details on our exclusive listings we require your complete mailing address & contact details so as to satisfy confidentiality requirements for the financial information we share.

Check out our

latest properties