Overview
Situated in the heart of La Petite-Patrie, this property lies adjacent to the vibrant Mile-End and is a mere stone's throw from the renowned Jean-Talon market. Boulevard Rosemont, just a short walk away, offers tenants access to a myriad of services, including two convenient Metro stations on the Orange line: [Rosemont and Beaubien Metro stations].
The building has been under the meticulous care and management of the current ownership group since 1989. Over the years, they have invested significantly in the property, ensuring timely repairs and renovations.
Recent upgrades encompass balcony refurbishments (2020-2021), the installation of a Weil McLain gas furnace (2012), masonry enhancements (2022), landscaping improvements, a new main water entry in 2019, and a roof replacement in 2010, among other maintenance tasks (many receipts available).
The environmental report is up to date.
With an enviable Walkscore of 94% (Note 2) , the location is undeniably prime. The current rental rates in the building present a substantial growth opportunity in this segment of the Petite-Patrie borough.
It's notable that most neighboring properties are either condo units or smaller structures. Analyses by Baron Realty indicate that renovating the units to premium standards could elevate rental rates to align with the area's average, potentially realizing an increase of close to 40%.
The area's demographics further underscore its allure, boasting a youthful median age of 35.9 and an impressive average household income of $94,000. (Note 1)
(1) Source Tetrad
(2) Source Walkscore.com
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Location
5690 De La Roche Street , Montreal
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