THE FIGURES SPEAK FOR THEMSELVES. CAP RATE of 4.12% based on CMHC guidelines + 2 exceptional mortgages to be assumed by the buyer. The 1st is at 2.08% maturing March 2031, and the 2nd at 2.82% maturing December 2031. High-luxury 2019 building of 18 units, 2 of which are commercial spaces (hair salon & a beauty salon), 30-car indoor garage and 3 elevators. Located in the heart of Mascouche, the building offers chic like no other in the north shore. See the video. $600,000 in annual income. Quality investment in a new, high-end building with no capital expenditures in sight. The building is always full. A superb building with a fabulous return.
- TRANSFER DUTIES EXEMPTION The seller might offer the buyer the possibility of purchasing the company (100% of the shares) that owns the building, to be exempt from the Property Transfer tax of +/$311,733. Note that the company only holds this building as an asset and the financial statements are prepared by a CPA firm. All subject to an accounting and legal review of course.
SELF MANAGED BUILDING Building has a Property Manager who looks after all service calls, repairs, rentals and day-to-day oversight
- DETAILS OF THE 2 LOANS ARE AVAILABLE ON DEMAND
- PROPERTY DESCRIPTION . The building is comprised of 18 units of which 2 are commercial spaces, a 30-car indoor garage and 3 elevators . The 2 commercial spaces are a hair salon on the ground floor and an esthetic salon on the 2nd. GST and QST to apply on these 2 commercial spaces. . 12 X 5 ½s and 6 penthouses on 2 levels . The 5 1/2s measure approx. 1,490 sq. ft. and the penthouses 2100 sq. ft. . Concrete floors - Superior soundproofing . The Penthouses have a huge living/family room on the 2nd level with a large terrace - watch the video . Laundry room in all apartments . Large walk-ins in all apartments . Quartz kitchen counters . 22 secure-access storage spaces (lockers) . 2 electric vehicle charging stations . Automatic irrigation system in the garage . 10 cameras installed inside and outside - connected to the internet + DVR . Intercom with camera - wired installation . Sun protection film installed on 3 stairwells . Fire extinguishers installed in stairwells and garage
- IMPORTANT CONSIDERATIONS . gas fireplace installed in all apartments . 2 gas fireplaces in all penthouses, one on each level . Heating is gas - forced air. Water heaters are also gas-fired. Gas consumption paid by the tenants . Water heaters belong to the building . Heated floors in all bathrooms and powder rooms . Smoke detectors installed in all apartments and connected to the central alarm panel . Central alarm panel tested annually by Viking - certificate of compliance on hand . Magnetic key to enter the building and a remote control for the garage
- OTHER DETAILS . Dogs are prohibited, however permitted on request only . Snowblower included in sale price . Website included in sale price - visit squaremasson.com . Non-smoking building . Bar-B-Q allowed
Inclusions
15 appliances and 1 snow plower sold as is without legal warranty