Immeubles Gloria
1650 René-Lévesque W., Ville-Marie
120 residential units, 2 commercial units | 35,000,000$

Description

Residential
24
57
21
18
0
0
120
2

Financial Overview

Revenue 1,937,100$
Cost per Unit 291,667$
Cap. Rate 3.75 %
GRM 18.07
NRM 26.65
Return on Cash Flow 1.18 %
Return on Investment 3.87 %

Municipal Evaluation

Previous Assessment 2023-2025 20,748,000$
 
Land 2026-2028 6,853,400$
Building 2026-2028 15,969,400$
Total 2026-2028 22,822,800$

Highlights

- Incredible concrete high-rise building in the heart of downtown - Strong rental demand from students and young professionals
- Prime location near Bell Centre and Place Alexis-Nihon - Good long-term potential to increase the revenues
- Steps from Concordia University and Guy-Concordia metro station - Advantageous zoning allowing commercial, residential and hotel
- Near Eaton Centre and McGill University - Possibility to qualify for advantageous CMHC MLI Select financing
- Surrounded by restaurants, shopping, and cultural venues - Amazing investment opportunity not to be missed!
- Some renovations were done through the years

Residential

Studio 1 ½ 24
Alcove 2 ½ 57
1 bdrm 3 ½ 21
2 bdrm 4 ½ 18
3 bdrm 5 ½ 0
4 bdrm + 6 ½ + 0
Total Units   120

Commercial

Commercial 0
Total Units   0

Parking

Parking 0
Garage 0
Storage 0
Total Spaces   0

Location

Main Artery René-Lévesque W.
Intersection René-Lévesque / Guy
Shopping Center Place Alexis-Nihon
Metro Station Guy-Concordia metro
Bus 24, 57, 150, 165, 420
Attraction Bell Centre
Hospital Montreal General
School Concordia, McGill

Heating

Energy Source Electricity
Heating Type Electric Baseboards
Responsibility Tenants & Owner

Heating Hot Water

Energy Source Electricity & Gas
Responsibility Tenants & Owner
Water Tank

General Information

Zoning Semi-Commercial
Cadastral 1850905
Building Type Detached
Floor Nb. 11
Year Built 1953
Lot Area 652
Building Area 583
Stove As per leases
Refrigerator As per leases
Washer Coinamatic
Dryer Coinamatic
Elevator 2 elevators
Wash/Dry Hookups Laundry room + in units
Dishwasher Hookups Some units
Pool None
Furnished 5 appliances
AC units None
Basement Storage
Fireplace None
Intercom Yes

Building Overview

Roof
Windows
Balconies
Exterior Walls Concrete structure
Electricity Mix of 60A and 100A panels in the units | 103 Hydro-Quebec meters | Electricity included in 24 leases
Plumbing
Heating System Electric heating paid by most tenants | Electricity included in 24 leases
Hot Water Tanks Natural gas hot water heating paid by the owner | The renovated apartments have electric hot water heaters.
Elevator 2 elevators
Garage None
Bathrooms Some renovated bathrooms
Kitchens Some renovated kitchens
Certificate of Location Wladyslaw Bielawski - 2017-06-14
Environmental Report Phase 1 - D&G Enviro-Group - 2023

Notes

- Zoning : Usage M.3C (commercial and residential unlimited units) | Zone 0123
- Zoning allows for multiple usages, such as commercial, residential and hotel (max 20% of units)
- Patrimonial status AP-2
- Walk Score: 100 | Bike Score: 82
- Lots of unused space in the basement | Possibility to add storage spaces for the tenants.
*** 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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