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| Marc, Sells Business opportunity, Real Estate - Multiplex | | Canada, Quebec, Montréal | | Price: cad 5,500,000 Available from: 09.16.2009 | | Great opportunity! Multiplex (64) for sale in Montreal |
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| About Business for sale |
| Headline: |
Great opportunity! Multiplex (64) for sale in Montreal |
| Location: |
Canada, Quebec, Montréal |
| Address: |
5545 Ch. de la Côte St-Luc |
| Price: |
5,500,000 CAD, Price negotiating is possible |
| Available from: |
09.16.2009
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| Business Category: |
Business opportunity, Real Estate - Multiplex |
| Year founded: |
1950 |
| Gross Revenue: |
506 304 CAD |
| Other important Info: |
High traffic area, Exclusive location, Easy acces using public transit, Easy to operate, Easy to find tenants |
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| My preferences (About the buyer) |
| is not filled |
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| Business description: |
VERY GOOD LOCATION! Hampsted adjustment! 64 units building:
1x1/5,
6x2/5 ,
29x3/5 ,
28x4/5 ,
Big apartments,close to metro,schools, decarie. Good long term investment.
BIG POTENTIAL!Visit with accepted offer only.see addendum for renovations.
Renovations:
*new gas heating system(January 2006)
*braker box in each apartement
*all water heating tanks
*control box for elevator changed
*all windows are new
*all balcony railings and doors are new
Total cost of renovations approx.:450,000
Grand Total of Annual Potential Gross Revenue $506,304
Year Built 1950
Lot Area 1,806.2 sf
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take note that there is an assumable mortgage on this property of approx. $3.5 Million at 5.17% amortized over 30 yrs with a remaining term of 8 yrs.This with Scotia Bank.
Payment on Capital and interest is $19,035.90 per month or $228,430.79/ Annum. Gross revenues are at $510,000.00 minus the taxes and expenses of $96,296.00 / Annum leaves us a N.O.I. of $413,704.00. Based on a Selling price of $5.5 Million the Capitalization rate or "Cap Rate" as we like to call it is 7.5% which is more than acceptable in this market. More accurately if we take the N.O.I. of $413,704, less the Mortgage of $228,430.79 leaves the potential Investor with a net cash flow of $185,273.21. Assuming it sells at the asking price of $5.5 Million this leaves the Investor a Net Return on his investment of $2 Million of 9.26% per annum.
(Actually the R.O.I. or Return on Investment is closer to 10% maybe a touch more as part of the Mortgage payment is Capital which goes directly into equity and therefore should not be deducted from the N.O.I.) |
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| About the seller |
| Name: |
Marc |
| Surname: |
Melkonian |
| Contact info is available to only registered users |
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