10 bedrooms
6 bathrooms
Lot dimensions 490.58 m² (5 280.56 ft²)

Owners’ comments

6-unit Income property, now 43,740$ a year. Leases are signed for all housings.

Located a few minutes by foot from Downtown Sherbrooke, shopping center, some grocery stores, a pharmacy, a hardware store, restaurants, convenience stores, gyms, a bakery, Le marché de la gare market and various shops. Three minutes by foot from the bus terminal, direct access to both Université de Sherbrooke campuses, Cegep de Sherbrooke, Champlain College and Bishop's University.

Occupants of the building are respectful and good neighborhood prevails. At the signing of the lease, there is the commitment to respect the rules of the house. Privilege to non-smoking rental, and as animals cats only. General maintenance of the building is done on a regular basis. Units are delivered freshly painted or freshly cleaned to incoming tenants.

It is a family patrimony, a building dating from 1934 that has been well maintained by the owners. A stone basement with the surface of the floor partially on cement where there is a possibility for storage materials, there are the electrical boxes of tenants and services and the 6 water heaters. Each unit has its own electric heating with thermostat in every room and has its own 40 gallon water heater charged on its electric bill.

The roof is flat and was covered about 10 years ago with elastomer and gravel protection (lifetime of at least 20 years). Balconies are covered with roofing shingles.

Among the recent renovations, the wood windows were changed to PVC windows. A vinyl floor was laid in a kitchen on the ground floor. A bathroom has been completely redone in 2018 on the 3rd floor. The entrance was paved and a stone wall was placed to the left of the parking lot to harmonize with the back wall that was redone in concrete blocks.

Since 10 years, 5 out of 6 units have been completely refreshed. The remaining housing has not been renovated because it is the same tenant who lived there since we made the purchase of the building.

What is your offer?

Complete Description
Complete Description

Property features

Asking Price
$400,000
Details
With income
Year of construction
1934
Building dimensions
127 m² (1 367.02 ft²)
General condition
Standard
Occupation rate
100
Certificate of Location
Yes
Courtyard orientation
West
Number of parkings
5
Municipal evaluation's date
2019
Lot's municipal evaluation
$41,700
Building's municipal evaluation
$281,800
Taxes year
2019
1 Bedroom
2
2 Bedroom
4
Bedrooms (total)
10

External facing:

  • Aluminium Siding

Foundation:

  • Rock

Frame:

  • Wooden dunnage

Roof:

  • Asphalt shingle
  • Elastomer membrane

Floor coverings:

  • Laminate
  • Hardwood
  • Ceramic
  • Linoleum

Windows:

  • PVC

Heating source:

  • Electric

Electric system:

  • 100 amps
  • Breakers panel

Kitchen:

  • Melamine cabinets
  • Melamine wood imitation finish

Bathroom:

  • Bath and shower

Basement:

  • Low (6 feet or under)
  • Separate entrance
  • Unfinished

Upgrades:

  • Cabinets
  • Kitchen
  • Electrical
  • Windows
  • 9ft ceilings
  • Floors
  • Doors
  • Bathrooms
  • Roof
  • Painting

Parking / Driveway:

  • Aggregate
  • Asphalt

Location:

  • Near park
  • Public transportation

Near Commerce:

  • Supermarket
  • Drugstore
  • Restaurant
  • Shopping Center
  • Bar

Near Health Services:

  • Hospital
  • Dentist
  • Medical center
  • Health club / Spa

Near Educational Services:

  • Daycare
  • Elementary school
  • High School
  • College
  • University

Near Recreational Service:

  • Gym
  • Library
  • Museum
  • Ski resort
  • Bicycle Path

Complete list of property features

Room dimensions

Storey
Room
Dimensions
Flooring
Apartment 1
Storey: Main floor
Dimensions: 14' x 54' (4,27 m x 16,46 m)
Flooring: Laminate
Apartment 2
Storey: Main floor
Dimensions: 14' x 30' (4,27 m x 9,14 m)
Flooring: Laminate

Annual and Monthly costs

Summary of Expenditures
Monthly
Annual
School taxes
$63.12
$757.38
Municipal taxes
$431.54
$5,178.42
Electricity
$233.33
$2,800.00
Insurance
$240.58
$2,887.00

Annual and Monthly revenues

Summary of Revenue
Monthly
Annual
Annual income
$3,645.00
$43,740.00

Property transfer duties

In Quebec, the property transfer duties is a tax that all municipalities must collect from the new owner (buyer) of a property.

$

How to buy this property

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Did you know?

Whether you purchase a property from a homeowner or from a broker, the steps involved and the legal implications are the same. You’ll see that buying without an intermediary has many advantages!

Can I afford to buy this property?

Prior to visiting a property, you should verify whether you have the means to purchase it by meeting with a financial advisor. Don’t forget, you must have enough money to cover both a down payment and the expenses related to the transaction (notary, property transfer duties, etc.).

Is this property right for me?

Consult the listing to determine whether the property features meet your needs. If necessary, communicate with the homeowner to obtain additional information. You may then make an appointment with the homeowner for a visit and prepare a list of questions to ask him.

Do I need to conduct a property inspection?

Verifying the condition of the property prior to purchasing it is a good precaution to take. In order to do so, you can hire a home inspector. He will intervene at a later date. Be prepared to add the inspection conditions to the offer to purchase.

How much should I offer?

Easily familiarize yourself with the market by visiting DuProprio.com and by verifying the price that comparable properties in the area have sold for. You’ll get a better idea of how much you should offer. You can also hire a licensed appraiser.

FBD300AC-7746-4E68-A20C-3F23471BB772
How do I proceed with an offer to purchase?

Have a discussion with the homeowner in order to come to an agreement on the price, the conditions of the sale and the possession date. You can then complete the offer to purchase form.

Thanks to DuProprio, the seller benefits from a legal assistance service and can ask their legal questions in order to properly complete the document.

The sale will be sealed with a notary, but until then, nothing prevents you from consulting a notary to write-up an offer to purchase. Once the deed of sale is drafted, you will be the new homeowner!

Documents - Offer to purchase and counteroffer

$400,000

6 units or more for sale

No. 785591

With income
Contact the owner
Contact the owner