514-932-9000 | 416-637-6007
Income Property Real Estate Agency
Residential units: 15
Floors: 3
Asking price: $2,250,000.00
Gross revenues: $155,028.00
Net income: $106,679.00
Cap rate: 4.75%
Heating: Electric baseboard
Hot water: Electric
Land: 603.7 m² (6,498.17 ft²)
Parking: None

In excellent shape and 100% occupied, this multi-family asset in the borough of Ville-Marie is just a few minutes from downtown Montreal and adjacent to two subway stations (Papineau and Beaudry). WalkScore of 97 (tenants have no need for cars - source Walkscore.com).

Large, bright, well maintained units with lots of windows. Average in place unit rents as of December 2018 are only $861 /month, indicating strong rental upside; tenants paying their own water, heat and hydro (breaker panel in each unit). Average rents by size are: $729 for the 3.5, $883 for the 4.5, $1,020 for the 5.5 and $985 for the 6.5.

Pride of ownership in maintenance and upgrades shows throughout - same owner since 1989. Recent updates /renovations: Unit 1817: kitchen & bathroom, Unit 1823: washroom, Unit 1801: full renovation, Unit 1455: bathroom, Unit 1451: full renovation, Unit 1461: bathroom, Unit 1465: kitchen. When renovated, units received newly crystalized & varnished floors. All but one tenant provides their own washer, dryer (in unit), and appliances.

This part of the city has seen excellent population growth, estimated at 6.0% from 2013-2018, and has forecast growth of 6.0% from 2018-2023. The median population age is young at 36.7 years old. Strong household average income of $60,461 for 2018 estimated (source Tetrad, 1 Km radius).

The 15 units are: 7 X 3 1/2 , 2 X 4 1/2 , 4 X 5 1/2 and 2 X 6 1/2

Residential units: 22
Floors: 3
Asking price: $3,100,000.00
Gross revenues: $229,416.00
Net income: $136,937.00
Cap rate: 4.42%
Heating: Gas
Hot water: Gas
Land: 1,421.90 m² (16,381 ft²)
Parking: 3 indoor, 3 outdoor

Established and 100% tenanted multi-family building in the borough of Cote-des-Neiges. Owned and managed by the same family since 1992. A short walk to all the services (walks score of 91, note 2). Two blocks to the South of Plaza Cote-des-Neiges. A walk to Plamondon Metro Station. The building is in great shape with many updates completed including the roof at 3900 Plamondon (2016), all new fiber glass balconies (2016-2017), brick and masonry work (2013), and a high efficiency furnace (2009).

Excellent unit mix with 10 X 3 ½, 8 X 4 ½, and 4 X 5 ½. Offers tremendous upside in the rents: average in place unit rents are only $739 / month (3 ½), $900 / month (4 ½), and $1,037 / month (5 ½) 5% - 10% below market rents. (Heat & hot water paid by landlord).

Bright and large units with lots of windows. Some kitchens and bathrooms have been renovated.

This part of the city has seen steady population growth, estimated at 5.2% from 2012-2017 and has forecast growth of 4.9% from 2017-2022. The median population age is young at 35.7 years old, perfect for the area’s job markets and the Universities found in the Cote-des-Neiges borough. Strong household average income of $74,478 for 2017 (note 1).

The Cote-Des-Neiges borough is home to many of Montreal’s landmarks and destinations, including: three 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 and close proximity to downtown Montreal makes the Cote-Des-Neiges borough an easy choice for tenants to live in which is why with its 166,520 inhabitants on 21.4 sq. Km. the borough ranks as number 1 amongst Montreal’s 19 boroughs for population size.

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.

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