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1-9 Tsse Chartrand

36 Unit Apartment Building $5,640,331 USD ($156,676 USD/Unit) 4.64% Cap Rate Franklin, QC J0S 1E0

Apartment Buildings Quebec Franklin 1-9 Tsse Chartrand, Franklin, QC J0S 1E0

Investment Highlights

  • 5 buildings built between 2020 and 2022 comprising of a total of 36 units.
  • The property is located in the municipality of Franklin, 1 hour south of Montreal, close to the US border (Churubusco customs).
  • Lots of rental demand in the area and good quality of tenants.
  • All the apartments are large 4 1/2 of 950 sq.ft.
  • Quality construction with washer-dryer hookups, air conditioning, air exchanger, open concept kitchen, exterior storage, 61 parking spaces.
  • Possibility to assume the existing advantageous CMHC financing.

Executive Summary

5 buildings built between 2020 and 2022 comprising of a total of 36 units. All the apartments are large 4 1/2 of 950 sq.ft. The property is located in the municipality of Franklin, 1 hour south of Montreal, close to the US border (Churubusco customs). Quality construction with washer-dryer hookups, air conditioning, air exchanger, open concept kitchen, exterior storage, 61 parking spaces. Lots of rental demand in the area and good quality of tenants. Possibility to assume the existing advantageous CMHC financing. Excellent turn-key investment opportunity!

BUILDING
36 x 4 ½
Approximately 950 sq.ft each
Construction 2020 to 2022
Heating : Electricity paid by the tenants
Hot water : Electricity paid by the tenants
Air conditioning : 1-3-5 Terrasse-Chartrand : 20 x wall unit A/C | 7-9 Terrasse-Chartrand: 16 x heat pumps
Plumbing: Washer/dryer and dishwasher hookups in all the apartments
Certificate of location : 2021-2022
Environmental report : Phase 1 – 2022-04

CADASTRAL
5 buildings part of a horizontal co-ownership:
- 1 Terrasse-Chartrand : 6 units | 6346175 Cadastre du Québec | Construction June 2021
- 3 Terrasse-Chartrand : 6 units | 6346174 Cadastre du Québec | Construction July 2021
- 5 Terrasse-Chartrand : 8 units | 6346173 Cadastre du Québec | Construction June 2020
- 7 Terrasse-Chartrand : 8 units | 6346172 Cadastre du Québec | Construction June 2022
- 9 Terrasse-Chartrand : 8 units | 6346171 Cadastre du Québec | Construction May 2022
- Common area : 6 415 894 Cadastre du Québec
*** See certificate of location for the lot dimensions ***

ADVANTAGEOUS CMHC FINANCING TO ASSUME
- 1 Terrasse-Chartrand : 880,000$ | 2.50% | 40 years | Expiry October 2026 | Desjardins CMHC (regular).
- 3 Terrasse-Chartrand : 880,000$ | 2.50% | 40 years | Expiry October 2026 | Desjardins CMHC (regular).
- 5 Terrasse-Chartrand : 935,000$ | 1.50% | 35 years | Expiry February 2026 | National Bank CMHC (regular).
- 7 Terrasse-Chartrand : 1,235,000$ | 3.80% | 40 years | Expiry October 2027 | National Bank CMHC MLI Select (50 points energy efficiency)
- 9 Terrasse-Chartrand : 1,175,000$ | 3.80% | 40 years | Expiry October 2027 | National Bank CMHC MLI Select (50 points energy efficiency)
Possibility to assume one or many of the existing advantageous financing.
1-3-5 Terrasse-Chartrand : Possibility to qualify for a new CMHC MLI SELECT financing with the energy efficiency criteria.

Attachments

Terrasse-Chartrand 1-9 - FR - Sommaire Investissement - Immeubles Gloria
Terrasse-Chartrand 1-9 - ENG - Investment Summary - Immeubles Gloria

Financial Summary (Actual - 2024)

Annual (USD) Annual Per SF (USD)
Gross Rental Income $381,807 $11.16
Other Income $593 $0.02
Vacancy Loss - -
Effective Gross Income $382,400 $11.18
Taxes $43,255 $1.26
Operating Expenses $77,564 $2.27
Total Expenses $120,819 $3.53
Net Operating Income $261,581 $7.65

Financial Summary (Actual - 2024)

Gross Rental Income (USD)
Annual $381,807
Annual Per SF $11.16
Other Income (USD)
Annual $593
Annual Per SF $0.02
Vacancy Loss (USD)
Annual -
Annual Per SF -
Effective Gross Income (USD)
Annual $382,400
Annual Per SF $11.18
Taxes (USD)
Annual $43,255
Annual Per SF $1.26
Operating Expenses (USD)
Annual $77,564
Annual Per SF $2.27
Total Expenses (USD)
Annual $120,819
Annual Per SF $3.53
Net Operating Income (USD)
Annual $261,581
Annual Per SF $7.65

Property Facts

Price $5,640,331 USD Property Subtype Apartment
Price Per Unit $156,676 USD Apartment Style Low Rise
Sale Type Investment Building Size 34,200 SF
Cap Rate 4.64% Average Occupancy 100%
Gross Rent Multiplier 14.75 No. Stories 2
No. Units 36 Year Built 2020
Property Type Multifamily Parking Ratio 1.78/1,000 SF
Price $5,640,331 USD
Price Per Unit $156,676 USD
Sale Type Investment
Cap Rate 4.64%
Gross Rent Multiplier 14.75
No. Units 36
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Size 34,200 SF
Average Occupancy 100%
No. Stories 2
Year Built 2020
Parking Ratio 1.78/1,000 SF

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 36 - 950

Links

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(514) 683-6666 x102

Contact

  • Listing ID: 31791312

  • Date on Market: 5/14/2024

  • Last Updated:

  • Address: 1-9 Tsse Chartrand, Franklin, QC J0S 1E0

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1-9 Tsse Chartrand
(514) 683-6666 x 102

1-9 Tsse Chartrand

Marc-André Knot

(514) 683-6666

x102

(514) 683-6666 x102

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