Overview

Cartier Portfolio For Sale - Laval, Québec, Canada - Baron Realty

Baron Realty (the “Agency”) has been retained on an exclusive basis by the Vendor to arrange the sale of 3215, 3225 Cartier O &  3231-3265 Cartier O , Laval, Quebec (the “Property”). The Property is offered for sale as a portfolio.

OFFER PROCESS AND KEY DATES

The Vendor shall be reviewing all offers on Thursday, February 25th, 2021, at 2pm. All offers to be irrevocable until 5pm March 4th, 2021. Site visits, if any, will confirm to the most up-to-date government regulations at the time of distribution / visit / inspection date, etc. Please contact the Listing Brokerage for any inquires. A virtual tour of all buildings common areas and selected apartments is available.

The Vendor retains the right to not respond to rejected offers. The Broker shall inform any party that will not be receiving a written response, via email. The Vendor reserves the right to accept pre-emptive offers.

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3215, 3225 Cartier O (multi-family, residential), 3231-3265 Cartier O (multi-family, residential mixed with  commercial) – 68 residential and 5 commercial units. Offered for sale as a portfolio.

Built in the late 1960s, early 1970s and still owned by the builders’ families, the properties show pride of ownership throughout. Rich in character, solid and reliable, in an area with the highest population density on the island, these properties feature large suites with an ideal unit mix of 3 ½ and 4 ½ units – currently fully leased. For 3231-3265 Cartier O (semi-commercial), three of the five ground floor commercial units are rented to long term tenants.

Incredible opportunity for upside – all suites are currently rented well below market (20-30% rental upside based on Baron Realty Rental Survey), in addition to which there exists an opportunity to significantly decrease expenses (gas), as well as to reposition the parking and turn it into a revenue source.

Chomedey, Laval has extremely high population density, with exceptionally low vacancy, as well as a diversely multicultural renter base. Incredibly easy-access to public transit (tenants have little need for cars) and major routes, near numerous restaurants and groceries, schools, and places of worship; walk Score of 731. This area of Laval has seen strong population growth of 4.8% from 2015-2020 and has projected growth of 6.3% from 2020-2025 with a median age of just 45 and a high percentage of rented dwellings at 60.3%2.

  • Units

    68 Res. + 5 Com. Units

  • Floors

    3 + Basement

  • NOI

    $354,077

  • Gross Revenue

    $633,715

  • Heating

    Gas , paid by landlord

  • Hot Water

    Gas , paid by landlord

  • Land

    4,356.0 m²

  • Bid Date

    February 25th at 2PM

Comparables

Location

3215, 3225 & 3231-3265 Cartier West

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Gallery