Incredible opportunity to acquire an asset located along the St. Lawrence River, with water views. Over 23% rental upside in rents, based on Baron Realty Rental Survey.
Built in 1969, and owned by the same group since 2010. Maintained to a high-standard of ownership, this is truly a turn-key investment. Constant major and minor renovations including brand new elevator (2022), Soprema membrane roof (2015), garage drains (2020), gas heating furnace (2011), hot water tank (2011), brick work (2011 and 2022), many new windows, fire panel conforming to the new requirements of City Department of Safety (Piezos in 2020), most units have been renovated at tenant turn over since 2011, including some recently reinsulated(*) , asphalt walkway (2020).
Rich in character, solid and reliable, in the heart of the borough where nature meets urban areas, this property features large suites with an ideal unit mix of 3 ½ and 4 ½ large suites with L-shaped living room and dining room. Many units leased at rents below market. There are 22 total parking stalls (13 interior and 9 exterior).
LaSalle, known for its diversity, has exceptionally low vacancy. Easy-access to public transit; multiple access routes to downtown Montreal, near numerous parks including Cavelier-de-Lasalle, Laurier-Macdonald and Louise-Marie-Gagnon Park; several schools including l’École Secondaire Cavelier-de-LaSalle, known as one of the top schools for “talent yielding” in the field and music and dance. This area of Montreal has seen strong population growth of 3.7% from 2015-2020, and a high percentage of rented dwellings.
Environmental reports up to date and available. Buyer to do own financing.
* The 6 X 4 1/2 units with Southern exposure
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