Immeubles Gloria
100 Mount Vernon, Lachine
24 residential units, 0 commercial units | 4,300,000$

Description

Financial Overview

Revenue 243,012$
Cost per Unit 179,167$
Cap. Rate 3.61 %
GRM 17.69
NRM 27.64
Return on Cash Flow 1.75 %
Return on Investment 3.12 %

Municipal Evaluation

Previous Assessment 2017-2019 1,847,100$
 
Land 2020-2022 576,400$
Building 2020-2022 1,640,100$
Total 2020-2022 2,216,500$

Highlights

- Beautiful renovated 24 units brick building in the heart of Lachine - Electrical heating paid by most tenants, few units paid by the owner
- Well located near Montreal-West train station and Angrignon metro - Possibility to add 6 units in the basement (total of 30 units after reno)
- Walking distance to Canal Lachine and bike path - The plans were approved by the City through a PPCU in July 2021
- The building was extensively renovated since 2014 - Amazing potential to develop the property by adding 6 units
- Over 1,300,000$ were invested in renovations - Significant upside to increase the revenues
- 2015-2016: New roof, windows, electricity, plumbing, balconies, etc. - Excellent investment opportunity!

Residential

Studio 1 ½ 0
Alcove 2 ½ 0
1 bdrm 3 ½ 18
2 bdrm 4 ½ 6
3 bdrm 5 ½ 0
4 bdrm + 6 ½ + 0
Total Units   24

Commercial

Commercial 0
Total Units   0

Parking

Parking 6
Garage 0
Storage 30
Total Spaces   36

Location

Main Artery Highway 20
Intersection Highway 20 / des Érables
Shopping Center Place Newman
Metro Station Montreal-West Train station
Bus 90, 116, 123, 356
Attraction Lachine Canal
Hospital Lachine Hospital
School André-Laurendeau Cegep

Heating

Energy Source Electricity
Heating Type Electric Baseboards
Responsibility Tenants & Owner

Heating Hot Water

Energy Source Electricity
Responsibility Tenants & Owner
Water Tank 2015-2016

General Information

Zoning Residential
Cadastral 1703466
Building Type Detached
Floor Nb. 3
Year Built 1955
Lot Area 1356
Building Area 0
Stove As per leases
Refrigerator As per leases
Washer
Dryer
Elevator None
Wash/Dry Hookups Laundry room
Dishwasher Hookups
Pool None
Furnished As per leases
AC units
Basement Apartments
Fireplace None
Intercom Yes

Building Overview

Roof Roof redone in 2015-2016
Windows Windows and all interior and exterior doors replaced in 2015-2016
Balconies Fiberglass balconies replaced in 2015-2016
Exterior Walls The structure was reinforced by Bisson in 2019 (55,000$), new insulation to exterior walls and roof in 2015-2016
Electricity Electricity completely redone in the building in 2015-2016, new electrical entrance and electrical room
Plumbing Plumbing completely redone in the building in 2015-2016, including the main water entry to the street
Heating System Electrical heating, the owner pays the heating for only a few units
Hot Water Tanks Hot water tank in each apartment, 24 tanks replaced in 2015-2016
Elevator None
Garage None
Bathrooms All the units have been completely renovated in 2015-2016
Kitchens All the units have been completely renovated in 2015-2016
Certificate of Location Francois Houle - 2003-04-02
Envrionmental Report Phase 1 - D&G Enviro-Group - 2015-11-19

Notes

- Other 2015-2016 renovations include: new fire panel, new intercom, security cameras, extra sound proofing between the units, concrete main entrance
- Over 1,300,000$ were invested in renovations since 2014
- The City has approved the addition of 6 units in the basement through a PPCU (zoning change)
- In order to conform to the PPCU, 6 parking spaces will have to be built on the lot according to the submitted plans
- The information presented above are to be verified by the buyer during the inspection period
*** This sale is made without any legal warranty of quality, on an “as is, where is” basis, at the BUYER’s own risks ***
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