Immeubles Gloria
3440 Ridgewood, Côte-des-Neiges
46 residential units, 0 commercial units | 14,995,000$

Description

Financial Overview

Revenue 816,352$
Cost per Unit 325,978$
Cap. Rate 3.86 %
GRM 18.37
NRM 25.86
Return on Cash Flow 2.93 %
Return on Investment 4.97 %

Municipal Evaluation

Previous Assessment 2017-2019 4,902,900$
 
Land 2020-2022 1,209,800$
Building 2020-2022 4,918,800$
Total 2020-2022 6,128,600$

Highlights

- Prestigious concrete building in the best location in Côte-des-Neiges - Over 4,500,000$ have been invested in renovations since 2019
- Directly on the Mount-Royal, next to Westmount and Summit Woods - 27 fully renovated apartments converted to electrical heating
- Close to Côte-des-Neiges metro station, UdeM, HEC, Polytechnique - High end materials used: quartz countertop, hardwood floors, etc
- Over 250ft of unobstructed street facing façade - New units include: fridge, stove, dishwasher, washer, dryer, A/C
- Very large apartments: 3 1/2 are 750 sq.ft and 4 1/2 are 1,000 sq.ft - Lots of potential to increase the revenues and reduce the enery costs
- 9ft height ceilings and very large windows throughout the building - Unique investment opportunity in an incredible location!

Residential

Studio 1 ½ 0
Alcove 2 ½ 9
1 bdrm 3 ½ 10
2 bdrm 4 ½ 26
3 bdrm 5 ½ 0
4 bdrm + 6 ½ + 1
Total Units   46

Commercial

Commercial 0
Total Units   0

Parking

Parking 5
Garage 12
Storage 1
Total Spaces   18

Location

Main Artery Côte-des-Neiges
Intersection Queen-Mary
Shopping Center Van Horne Commercial Center
Metro Station Côte-des-Neiges Metro
Bus 11, 165, 166, 369, 465, 711
Attraction Oratoire St-Joseph
Hospital Montreal General Hospital
School UdeM, HEC, Polytechnique

Heating

Energy Source Electricity & Gas
Heating Type Baseboards & Hot Water
Responsibility Tenants & Owner

Heating Hot Water

Energy Source Natural Gas
Responsibility Owner
Water Tank

General Information

Zoning Residential
Cadastral 2174932
Building Type Detached
Floor Nb. 5
Year Built 1954
Lot Area 1800
Building Area 0
Stove Included in leases
Refrigerator Included in leases
Washer Owner
Dryer Owner
Elevator One elevator
Wash/Dry Hookups Renovated apartments
Dishwasher Hookups Renovated apartments
Pool None
Furnished Appliances
AC units Renovated apartments
Basement
Fireplace None
Intercom Yes

Building Overview

Roof Tar and gravel roof
Windows Sliding aluminium windows
Balconies
Exterior Walls Concrete structure
Electricity Individual Hydro-Quebec meters | 100AMP panels | Heating paid by the tenants for renovated apartments only
Plumbing The 27 renovated units have washer/dryer hookups | Most risers have been replaced
Heating System Originally natural gas heating | 27 renovated units are converted to electrical heating | 19 units to be converted
Hot Water Tanks Hot water heated with natural gas | Hot water paid by the owner
Elevator One elevator
Garage 12 indoor garage spaces | 5 outdoor parking spaces
Bathrooms 27 fully renovated apartments with high end materials
Kitchens 27 fully renovated | Stainless steel fridge, stove, dishwasher, washer/dryer and A/C
Certificate of Location Felix Guay-Lord - 2019-02-26
Envrionmental Report Phase 1 - DEC Enviro (2021-09-21) | Phase 2 (2019)

Notes

- Over 4,500,000$ have been invested in renovations since 2019
- Over 250ft of unobstructed front facing façade
- 9ft heigh ceilings throughout the whole building
- Apartment #50 is a penthouse of 2,230 sq.ft on 2 levels (5th floor + mezzanine) with a rooftop terrace
- The renovated units have been soundproofed
*** 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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