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6 bedrooms
3 bathrooms
Lot dimensions 13 199.78 ft² (1 226.3 m²)

Owners’ comments

Fully occupied, a multi-unit property containing 3 2-bedroom apartments, as well as 2 commercial/professional units, all rented to long-term tenants (commercial tenants include notary and doctor and have been tenants for more than 15 years each).  All tenants pay their own electricity (all heat is electric).

Major renovations have been made to the property since 2011 including new roof and eavestroughs, replacement of 13 windows, replacement of front entry doors (for apartments), heating system for commercial tenants fully replaced, replacement of ductwork for fans and dryers, and full replacement of ceiling (roof) insulation.

Annual revenues are $48,000, annual operating costs $12,500 -- generating net annual revenues of $35,500 providing an unlevered cash return of 10% on asking price.  Great investment opportunity!

Complete Description
Complete Description

Property features

Asking Price
$358,750
Details
With income
Year of construction
1993
Building dimensions
4 200 ft² (390.19 m²)
General condition
Very good
Occupation rate
100
Certificate of Location
No
Courtyard orientation
West
Number of parkings
6
Municipal evaluation's date
2020
Lot's municipal evaluation
$10,000
Building's municipal evaluation
$262,600
Taxes year
2020
2 Bedroom
3
Bedrooms (total)
6
Commerce(s)
2

Roof:

  • Asphalt shingle

Heating source:

  • Electric

Upgrades:

  • Heating
  • Windows
  • Insulation
  • Doors
  • Basement
  • Roof
  • Gutters

Near Commerce:

  • Drugstore
  • Restaurant
  • Bar

Near Health Services:

  • Dentist
  • Medical center

Near Educational Services:

  • Daycare
  • Kindergarten
  • Elementary school

Complete list of property features

Room dimensions

Storey
Room
Dimensions
Flooring
Apartment 1
Storey: Main floor
Dimensions: 23' x 30' (7,01 m x 9,14 m)
Flooring: Vinyl
Apartment 2
Storey: Main floor
Dimensions: 23' x 30' (7,01 m x 9,14 m)
Flooring: Vinyl
Apartment 3
Storey: Main floor
Dimensions: 23' x 30' (7,01 m x 9,14 m)
Flooring: Vinyl

The steps involved in buying a property

Could this property be “the one”? Here’s an overview of the steps involved in becoming the owner. These steps and the legal implications remain the same whether the property is purchased from an individual or through a broker.

1
Financing

One of the first things to do when looking for a property is to get a mortgage preapproval from a financial institution. The goal is to determine borrowing capacity, and as a result, the price range to be looking in.

2
Offer to purchase

The property suits the budget and needs? Time to submit an offer to purchase! This document sets out the price, the elements included in the sale, the possession date, the conditions of purchase and all other information relevant to the sale.

Need the form?

Documents to download

3
Conditions of purchase

The offer to purchase generally includes conditions. The most common are the property passing an inspection, the buyer providing proof of financing and the buyer selling their own property. Once the listed conditions are met, the property is considered sold.

4
Property transfer

The last step is to see a notary, who is generally chosen by the buyer. This real estate professional drafts the deed of sale and ensures that the interests of all parties involved are respected.

Once the deed of sale is notarized, the new owner gets the keys to the home. All that’s left is to move in!

More details on these steps

See our All about buying section.

$358,750

Quintuplex for sale

35-43, rue Patterson

Campbells Bay Outaouais

No. 919170

With income
Contact the owner
Contact the owner
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