Description

Opportunities like this are rare. This is an exceptional location that should continue to benefit from strong long-term rental demand. The property is within walking distance of all essential services, including two metro stations, Préfontaine and Frontenac. One of the property's key strengths is its excellent unit mix. The top floor consists of 4 × 3½ units, the middle floor consists of 2 × 5½ units, while the lower level consists of 2 large 6½ units, each with four bedrooms (including double living rooms), in addition to a finished basement.

The property is very efficiently operated and benefits from a particularly advantageous expense structure. Heating and hot water are electric and paid for by the tenants, while the hot water tanks are owned by the landlord. In the 3½ units, the hot water tanks are located directly within the units. The hot water tanks serving the 5½ and 6½ units are located within the 6½ units. All three floors offer ceiling heights of more than 8 feet. Unit 2806, a 6½, has a ceiling height of nearly 9 feet and also benefits from a basement with a ceiling height exceeding 6 feet. Unit 2810 has a ceiling height of approximately 8.75 feet, while unit 2806B, a 3½, has a ceiling height of approximately 8.66 feet. The units show extremely well: they are spacious, bright and very appealing. All leases have been renewed for 2026--2027, and the property is fully leased. All units also have the necessary connections for a washer and dryer. The 3½ units are rented with a refrigerator and stove supplied by the landlord, while no appliances are provided in the 5½ and 6½ units. The balconies are fiberglass, and the windows have also been replaced in recent years. The tar-and-gravel roof was redone in 2004. The property also benefits from an important and relatively rare feature for the area: 6 parking spaces at the rear of the building. All six spaces are rented under signed agreements at $100 per month each, generating an additional $600 per month in revenue. Given the quality of its location, its desirable unit mix and its particularly advantageous expense structure, the property presents an attractive profile for CMHC-insured financing, subject to applicable eligibility and underwriting criteria. This is a particularly compelling opportunity for a sophisticated investor seeking a quality property in an AAA location. The property has been owned and operated by the same ownership group since 1990, a period of 36 years. A true generational opportunity to acquire a quality property in an exceptional location. The location also provides convenient walking access to a wide range of amenities, including several grocery stores, pharmacies, shops, a Canadian Tire, and two metro stations: Préfontaine and Frontenac. The property is also located just a few blocks from La Fontaine Park and offers particularly convenient access to downtown Montréal.

The floor plans and measurements have been prepared using CubiCasa and are provided for reference purposes only. As the measurements were generated using a digital measuring tool, they may not be 100% accurate and discrepancies may exist. Furthermore, for the 6½ unit, the indicated square footage includes the main floor as well as the basement level, including the unfinished portion of the basement. As a result, the stated square footage for the 6½ unit is overstated, as the unfinished portion of the basement has also been included in the calculation.