5585 Avenue Gatineau

An exceptional opportunity awaits at 5585 Avenue Gatineau – a distinctive property located on one of Montreal's most esteemed streets. Situated between Boulevard Edouard Montpetit and Chemin de la Côte Sainte-Catherine, 5585 Avenue Gatineau is a magnet for discerning investors, renters, and property owners.

This exquisite structure harkens back to the elegance and grandeur of the 1930s, boasting high ceilings, large units, and quality construction. The building is in excellent condition throughout. The alarm system and panel were just upgraded in recent months.

This property occupies a prime location, merely two blocks from the Côte-des-Neiges Metro station. It is strategically positioned between three of Montreal's most important hospitals (CHU Sainte-Justine, Jewish General Hospital, and St. Mary’s Hospital), adjacent to Collège Jean-de-Brébeuf, and near one of Quebec's most important universities, the University of Montreal.

Its perfect Walk Score of 96% (note-2) reflects the ease with which tenants can walk to all necessary services in the area, eliminating the need for a vehicle. Furthermore, the site offers a 3-car indoor garage as a detached structure. The demographics are phenomenal for real estate investors, with an average age of 34.3 (note-1).

Unit mix

The building provides a fantastic mix of apartments, including 1 X 11.5 unit (rented as 10 rooms on 2 floors), 2 X 5.5 units, and 2 X 3.5 units. All units on the second and third floors have balconies, all are spacious. The potential rent increase is excellent at 27% above market rents.

Zoning

The zoning is H.4-6 (4 to 36 units), and the current site coverage ratio allows for the addition of more square footage (note-4).

Location

Côte-des-Neiges is a haven for renters due to the services, benefits, easy public transportation, many schools, and green spaces in the area. Furthermore, 5585 Avenue Gatineau is one of the most sought-after streets in the borough and promises to be a guaranteed successful investment for its future owner.

Unit measurements (note-3)

These are extremely large units. Each floor is 2,003 square feet. On the top two levels, there are four units, 2 per floor  (one 5 ½  unit and one 3 ½ unit per floor).

The ground floor and the basement are the large 11 ½ unit space, rented as 10 rooms.

(1)Source: Tetrad

(2) Source walkscore.com

(3) These measurements are from the 2021 certificate of location.

(4) This must be confirmed with the borough of Cote-des-Neiges

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