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LA TERASSE RICHELIEU

16 594 Terrasse Richelieu, Ste-Genevieve, QC, H9H 3P4

OFFER DEADLINE

First Come, First Serve Basis: 

This offering is only available through an online offer submission as outlined below:

  • Offers should be submitted to the listing brokers by email at info@fbgcommercial.com

  • Offer structure should include the following:

    • Purchase Price 

    • Proposed Earnest Money Deposit 

    • Proposed Due Diligence & Closing Period 

    • Evidence of Adequate Funds 

    • Company Profile

  • Due Diligence package available for download and review 
     

OVERVIEW

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FBG commercial is pleased to present you a fully leased 10-plex located in the desirable Ste-Genevieve area of the West-Island. This property is conveniently located in close proximity to Fairview Pointe-Claire, the newly built REM station, main boulevards, CEGEP, public transportation, and a variety of other amenities.

Currently, the property generates a gross revenue of $91,860 per year, and offers significant potential for increased value with all rents + 12 parking spaces. This investment property boasts recent renovations that include new flooring in 80% of the apartments, a recent roofing update in 2017, recent windows and patio doors replaced 2015, and a new alarm system installed in 2016. Additionally, balcony floors have been replaced in 2017, and electrical panels have been updated.

This 10-plex comprises 4x 3 1/2, 3x 4 1/2, and 3x 5 1/2, making a total of 10 exclusive units. All tenants are responsible for their own hydro, making the building low maintenance for the owner. The property offers a unique opportunity to increase revenues instantly, and features large windows that allow for an abundance of natural light, each unit having its own parking space, private large balconies.

In conclusion, we highly recommend this investment property as it presents a prime opportunity for real estate investors to capitalize on the booming real estate market in the West Island. Please do not hesitate to contact us for more information or to arrange a viewing.

INVESTMENT HIGHLIGHTS

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  • ​​Comprising 10 exclusive units: 4 x 3 1/2 - 3 x 4 1/2 - 3 x 5 1/2;

  • All tenants pay their own hydro;

  • Low maintenance building;

  • Opportunity to increase revenues instantly;

  • Large windows allowing for an abundance of natural light;

  • Each unit has their own parking space;

  • Private large balconies;

  • 12 exterior parking spaces.

  • Close to public transport

  • Groceries and big box stores right beside

PROPERTY DETAILS

Price                                    $1,695,000

Number of Units                               10

Price / Door                           $169,500

Property Type            Multi Residential

Cap Rate                                        4.2%

Year Built                                        1975

Building sqft                                 5,870

Average rent/Unit                         $728

NOI                                           $71,600

PHOTO GALLERY

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10

UNITS

5,870

SQFT

1975

YEAR BUILT

MARKET SPOTLIGHT

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APARTMENTS

 

The divisions throughout :

  • 3 1/2 x4

  • 4 1/2 x3

  • 5 1/2 x3

  • 12 outdoor parking space

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RENTAL VALUE​

 

The current average rental prices for a 3 1/2 are $615, $751 for a 4 1/2, and $856 for a 5 1/2. Once units are renovated to contemporary design rental flats, there is a significant rise in demand for future rent hikes for all units.

Once restored, the average rent rises to $950 for a 3 1/2, $1200 for a 4 1/2, and $1500 for a 5 1/2 and all of these estimates are at a minimum, depending on the extent of renovation. 

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LOCATION ADVANTAGE

 

Located in the west island of Montreal, in Ste-Geneviève, this borough is 2min away from the Prairies River. Being close to all public transport, groceries and big anchor established box stores, this property makes it easy to attract tenants. 

GEOGRAPHIC MAP

CONTACT US

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PAUL FORTIN

President

FBG Commercial

Paul@fbgcommercial.com

514.969.4036

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JEAN FORTIN

Vice-President

FBG Commercial

Jean@fbgcommercial.com

514.962.3018

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. The Purchaser and his team should conduct their own investigation of the property and transaction.

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