Montreal Olympic stadiumtel.: (450) 321-0479
fax: (450) 321-0479
email: info@ApartmentHotelMontreal.com

Salient Facts

The most important of parameters while buying a fully furnished boutique apartment hotel facility in downtown Montreal, Quebec, Canada would predictably encompass the following real estate investment considerations.

Montreal Apartment Hotel for Sale

  • Location
    The property is located in the municipality of Montreal  between Boulevard René-Lévesque East and Rue de la Gauchetière East, in the heart of the Quartier Latin in downtown Montreal.
  • Building Description
    The property is a four storey concrete and brick apartment building with public street level parking.
  • Suite Breakdown
    Studio (1½) 16 units 250 square feet
    Studio (1½) 7 units 350 square feet
     
  • Site
    The site is approximately 2,530 square feet.
  • Year Built
    The building was constructed in 1956.
  • Parking
    The property has a private parking space in the back of the building, as well as access to public street level parking.
  • Amenities
    All studio apartments are fully furnished with air conditioning in each unit. The kitchenette is equipped with refrigerator, microwave, electric cook top and all the necessary utensils and accessories. Electronics such as television set, radio, telephone and high speed internet access are installed in each apartment.
  • Laundry
    The laundry room is equipped with two washers @2.50 per cycle and two dryers @2.50 per cycle. The laundry equipment is leased from Coinomatic company.
  • Renovations
    Renovations were made during the past two years of all twenty three fully furnished apartments, including kitchenette, bathroom and cupboards. All twenty three air conditioning units were replaced. All corridors and stairways were repainted. The front entrance door was replaced. All windows were replaced with aluminum ones.
  • Projected Gross Income
    For the fiscal year 2006-2007 the Effective Gross Income is $299,760 and the Net Rental Operating Income is $196,215.
  • Financing
    The property has a first mortgage with a balance of $800,000 as of April 30, 2007 bearing an interest rate of 7.5%. Monthly payment of capital and interest is $5,853.
  • Vendor
    The property is offered for sale by a Partnership of three business people from Montreal, Quebec, Canada.
  • Price
    The asking price for the property is a CDN $1,499,000 or CDN $65,174 per suite.