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199-211 Lévesque E., Laval
47 residential units, 0 commercial units | 6,900,000$

Description

Financial Overview

Revenue 444,744$
Cost per Unit 146,809$
Cap. Rate 4.01 %
GRM 15.51
NRM 24.90
Return on Cash Flow 2.38 %
Return on Investment 4.97 %

Municipal Evaluation

Previous Assessment 2016-2018 3,152,700$
 
Land 2019-2021 1,224,000$
Building 2019-2021 2,577,500$
Total 2019-2021 3,801,500$

Highlights

- Two amazing waterfront buildings for a total of 47 units in Laval - Hot water heated with natural gas paid by owner
- Excellent location next to the Cartier Metro station - In 2019 there was a fire in the 199 Lévesque building.
- Spectacular waterfront view on the Rivière-des-Prairies - Close to 1M$ was reinvested in the property in the last year
- The property consists of two buildings, 20 and 27 units + parking lot - Many apartments were renovated
- The parking lot is located accross the street - Very well maintained and managed property
- Electrical heating paid by tenants - Excellent investment opportunity !

Residential

Studio 1 ½ 0
Alcove 2 ½ 19
1 bdrm 3 ½ 5
2 bdrm 4 ½ 22
3 bdrm 5 ½ 1
4 bdrm + 6 ½ + 0
Total Units   47

Commercial

Commercial 0
Total Units   0

Parking

Parking 28
Garage 0
Storage 0
Total Spaces   28

Location

Main Artery Lévesque E.
Intersection Laurentides blvd.
Shopping Center Carrefour Laval
Metro Station Cartier metro
Bus 2, 17, 22, 27, 31, 41, 43 etc
Attraction Waterfront Rivière-des-Prairies
Hospital Cité-de-la-Santé
School Montmorency Cegep

Heating

Energy Source Electricity
Heating Type Electric Baseboards
Responsibility Tenants

Heating Hot Water

Energy Source Natural Gas
Responsibility Owner
Water Tank

General Information

Zoning Residential
Cadastral 1379263
Building Type Detached
Floor Nb. 3
Year Built 1965
Lot Area 3162
Building Area 0
Stove As per leases
Refrigerator As per leases
Washer Coinamatic
Dryer Coinamatic
Elevator None
Wash/Dry Hookups
Dishwasher Hookups
Pool
Furnished
AC units
Basement
Fireplace
Intercom

Building Overview

Roof
Windows Windows and patio doors (2010)
Balconies Some balconies currently under renovation
Exterior Walls Brick work done in 2017-2018 (66,000$) and one exterior wall currently under renovation
Electricity
Plumbing Copper plumbing, some drain work was done in 2016 (7,800$)
Heating System Electrical heating paid by tenants
Hot Water Tanks Water heater replaced (2020), Hot water heated with natural gas, paid by owner
Elevator
Garage Exterior parking lot is accross the street on lot 1379171
Bathrooms Most apartments at 199 Lévesque are renovated
Kitchens Most apartments at 199 Lévesque are renovated
Certificate of Location Certificate of location - Alain Sanscoucy - 2013-04-22 and 2018-07-24
Envrionmental Report Phase 1 - Enviro-Expert - 2018-11-05

Notes

- There was a fire in the 199 Lévesque building in 2019
- Close to 1,000,000$ was invested to renovate the apartments and building
- The property might consist in a housing complex within the meaning of the Law of the Rental board
- Intercom and camera system (2013)
- Foundation piling in 2012 with 25 years warranty (45,000$)
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