The perfect asset for the owner who wants to actively manage and possess a pristinely renovated building. Small but coquette units, perfect for doctors who work across the street (MUHC-Glen site) and students who train at the top academic health facility. 4-minute walk to Vendome Metro (no need for cars). Top quality tenant base.
Built in 1920 and owned/managed by the same family since 2011, attention to every detail of renovation and maintenance renders this asset a prized possession for any discerning purchaser: steel frame construction riveted beams and columns, concrete deck over 14 inches thick, 34 of 39 apartments beautifully renovated, fire alarm panel and annunciators (Piezos) to most up-to-date code, emergency/corridor lights, elastomeric roof, gas boiler, laundry room, intercom, wi-fi, electric baseboard heaters, French Drain and Sump pump, elevator cables and modules (*).
Tremendous 26% rental upside over the next 5 years (Rental Survey). Extremely low median age for renter demographic (37.4) makes this asset ideal for achieving the required turnover for maximizing future rents. Potential to add roof units with applicable setbacks (*).
The borough of Côte-des-Neiges/Notre-Dame-de-Grâce has extremely high population density, exceptionally low vacancy. Easy-access to public transit and major routes, near numerous restaurants and groceries, all levels of schools and parks. High Walk Score of 78 with a tremendous bike score of 97. This area of Montreal has seen phenomenal population growth of 6.0% from 2015-2020, and a projected growth of 5.8% from 2020-2025 and an extremely high average household income of $107,860.
(*) information given to listing agency. Buyer must verify during due diligence period.
39 Residential Units
3 + basement
- Gross Revenue
Electric, paid by landlord
- Hot Water
Gas, paid by landlord
- Asking Price