Immeubles Gloria
30-50 Marsolet and others, Sept-Îles
182 residential units, 0 commercial units | 18,500,000$

Description

Financial Overview

Revenue 2,157,480$
Cost per Unit 101,648$
Cap. Rate 6.14 %
GRM 8.57
NRM 16.27
Return on Cash Flow 10.20 %
Return on Investment 16.02 %

Municipal Evaluation

Previous Assessment 2016-2018 6,552,900$
 
Land 2019-2021 1,799,600$
Building 2019-2021 4,737,800$
Total 2019-2021 6,537,400$

Highlights

- Sept-Îles Gardens: Housing complex consisting of 182 units - Right by QC-138 Highway, located in the west part of the city
- 10 buildings between 16 and 20 units, well managed properties - Located in the urbanised area of the city, with quick access to amenities
- Heating and hot water paid by owner - Possibility to separate lots and sell as condos (with city approval)
- Major renovations in the last few years
- Great potential to increase rents - Can be sold with another 120 units project at 200 Régnault
- The area is being developed with the Sept-Îles Harbour - Excellent investment opportunity

Residential

Studio 1 ½ 0
Alcove 2 ½ 0
1 bdrm 3 ½ 0
2 bdrm 4 ½ 0
3 bdrm 5 ½ 8
4 bdrm + 6 ½ + 174
Total Units   182

Commercial

Commercial 0
Total Units   0

Parking

Parking 0
Garage 0
Storage 0
Total Spaces   0

Location

Main Artery Laure blvd.
Intersection Falkan street
Shopping Center Les Galeries Montagnaises
Metro Station
Bus Intercar Sept-Îles
Attraction Shaputuan Museum
Hospital CISSS North Shore
School Riverview School

Heating

Energy Source Oil / Electricity
Heating Type Hot Water
Responsibility Owner

Heating Hot Water

Energy Source Electricity
Responsibility Owner
Water Tank one per unit

General Information

Zoning Residential
Cadastral 5138443
Building Type Attached
Floor Nb. 2
Year Built 1972
Lot Area 53435
Building Area 0
Stove Tenants
Refrigerator Tenants
Washer Tenants
Dryer Tenants
Elevator None
Wash/Dry Hookups In all apt.
Dishwasher Hookups
Pool None
Furnished No
AC units
Basement
Fireplace
Intercom None

Building Overview

Roof All the roof were redone in 2011 at the cost of 1,100,000$
Windows
Balconies
Exterior Walls Siding work done in 2012-2013 at the cost of 2,000,000$, and 200k$ in 2019-2020
Electricity Breakers in each units, 600 amp main electrical entrance + 200 amp for electrical furnace
Plumbing Sump pump in basement of every building, one water counter per building
Heating System Units are heated with hot water, 3 oil furnaces and 1 electrical furnace heat the water, replaced 2011 for 200,000$
Hot Water Tanks Each unit has its own electrical hot water tank (40-60 gallons)
Elevator None
Garage Exterior parking asphalt redone in 2020
Bathrooms 2 toilets and 1 shower-bath per unit
Kitchens Washer/dryer hookups in all units
Certificate of Location Certificat de Localisation - Dany Savard - 2020-10-26
Envrionmental Report Phase I - SNC Lavalin - 2020-10-30

Notes

Land size is 53 435 sq. meters
Other renovations not mentionned above: 1,400,000$ in 2011-2014
137,000$ in 2013, Addressable fire alarm
Possibility to separate the units on individual cadastral and sell as condos (subject to approval by the City)
*** Can be sold with another 120 units project at 200 Régnault for a total of 302 units ***
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