$4,550,000

32 apartments for sale - Longueuil (Le Vieux-Longueuil) (Est)

$4,550,000

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$4,550,000

32 apartments for sale - Longueuil (Le Vieux-Longueuil) (Est)

$4,550,000

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565 Rue de Bruges, Longueuil (Le Vieux-Longueuil) (Est), J4J 5A4

*** UNPARALLELED LOCATION AND OPTIMIZATION OPPORTUNITY IN LONGUEUIL *** This 32-unit building of concrete and brick construction (16 X 3 1/2 and 16 X 4 1/2) with outdoor parking is close to all amenities including a bus station that's 500 meters away. Unique opportunity for those looking for the right building and right size to be optimized. Rents are between 25 and 30% lower than those paid elsewhere. Average rent for a 3 1/2 is $773 and $839 for a 4 1/2. THE BUILDING IS ALWAYS FULLY OCCUPIED. The building is eligible to CMHC's new exceptional financing program called MLI Select. A special investment opportunity by any standard.

  • Lot area: 27,390 SF
  • NUMBER OF ROOMS : 0
  • Year built : 1975
ALBERT SAYEGH
Certified real estate broker
Building details and property interior
Particularities plusParticularities minus

124'2" X 56'

1975

Brick

Elastomeric membrane

Addenda
Particularities plusParticularities minus

- The building is a concrete and brick construction.

- This building is eligible to the new CMHC financing program called MLI - Select, which offers:
. An amortization period of 40 or 45 years
. A CMHC insurance premium of only 1.75% or 2.25% instead of 5.25%
. A debt coverage ratio of only 1.1

- The roof was resurfaced with an elastomeric membrane in 2017.

- All windows and all patio doors were changed in 2012 and 2013.

- Fire alarm system has been updated to the current code, and the 2022 certificate of conformity is in hand.

- This building is the perfect opportunity for the buyer / developer / contractor who is looking for a well located building, that is always fully occupied, which can easily be updated without too much expense in order to optimize it and generate a considerable value appreciation.

- The average rent for the 16 X 3 1/2 is $773/month and the 16 X 4 1/2 is $839/month, all combined the average rent is $806/month... which is way, way below what is being paid elsewhere for a similar apartment.

- Considering the rents currently paid elsewhere, it is realistic to generate a value appreciation of more than $2 million on this building, once it is correctly optimized.

Building details and property interior
Particularities plusParticularities minus

124'2" X 56'

1975

Brick

Elastomeric membrane

Lot and exterior features
Particularities plusParticularities minus

27,389.85 SF

Asphalt

Driveway : 25

CEGEP , Daycare centre , Hospital , High school , Public transportation

Residential

Characteristics
Particularities plusParticularities minus

Electric baseboard units

Electricity

Laundry room , Fire detector , Intercom , Alarm system

Municipality

Municipality

Included & Excluded
Particularities plusParticularities minus

Not specified

2 washers and 2 dryers belonging to Coinamatic.

Financial details
Particularities plusParticularities minus
Assessment (2022)
Taxes
  • (2022)
  • (2022)
Gross yearly revenu (potential)
Annual Expenses
Energy
565 Rue de Bruges, Longueuil (Le Vieux-Longueuil) (Est), J4J 5A4
NEIGHBOURHOOD STATISTICS
  • Statistics Person living alone
  • Statistics Families with children
  • Statistics Families with no children
  • 26.3%
  • 21.2%
  • 16.9%
  • 15.4%
  • 18.8%
  • 12.9%
  • 3.7%
  • 7.3%
  • 75.8%
  • 0.0%
UnilingualFrenchUnilingualEnglishBilingual(fr/en)Other 0% 10% 20% 30% 40% 50% 60% 70% 80% 90%100%
  • Statistics Household
  • Statistics Individual
  • Statistics Owners
  • Statistics Renters
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ALBERT SAYEGH
Certified real estate broker

MORTGAGE PAYMENTS CALCULATOR

Financial details

Assessment (2022)
Taxes
  • (2022)
  • (2022)
Gross yearly revenu (potential)
Annual Expenses
Energy
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