166-170 Av Strathyre

166 - 170 Avenue Strathyre is a true investment opportunity for the investor looking to acquire a property that literally needs nothing else other than a good property manager. The property has been managed by the same family for an incredible 40 years (since 1984). They have done everything to keep it in impeccable shape with many recent upgrades in recent years including: The roof , The gas furnace and hot water tank, major masonry work, the balcony doors , the windows, the alarm panel system including the piezos, most of the plumbing, a majority of the bathrooms and kitchens. The electric panels are with breakers.The property has an elevator. The units are extremely large. No units are in the basement. There is a lot of parking (26 indoor and 15 outdoor parking spots). The location is a dream for the tenants. Easy access to public transport including the LaSalle Train station. Located within walking distance from the Lachine Canal to the North and the Saint Lawrence Seaway to the South. Excellent demographics with an estimated population increase of 5% from 2022 to 2027 within a 1 km radius. The median age is 40.5 and the average household income is $79,243. (Note 1) The neighboring properties are mostly smaller plexes and houses, meaning not too much rental competition from the neighbors. There is still great potential in the rents as the average rents currently in place are $813 for the 2.5 units, $970 for the 3.5 units, and $1080 for the 4.5 units. Baron Realty estimates a 37.9% potential increase in these in-place rents.