Property Description

Excellent investment opportunity. Superb semi-commercial building in a prime location. Adjacent to Crémazie metro station. Building composed of 8 furnished studios and two commercial spaces including a convenience store and a bar currently vacant. Good potential for increased income. Located in a 3-storey zoning, with a maximum height of 13.5m. Semi-commercial building in prime location, 200 meters from Subway Station Crémazie, neighbouring a 14-storey building. Because of the location of the building, the annual increases of the two commercial leases are greater than usual.

ZONAGE
* The zoning currently allows 3 floors for maximum height 13.5 meters. The owner can obtain a permit to add one more floor.
* There is no parking requirement for new construction since it is less than 300 meters from the subway station.

THE BUILDING
* 8 apartments of size between 200 and 250 square feet
* The studios are rented with simple furniture and heated
* They are always rented and there is a waiting list of tenants
* Well maintained and well managed property

COMMERCIAL
* Heating costs, hot water and 50% of taxes payable by tenants
* Basement used as storage/office for businesses
* Good upside potential
* Long-time tenant
* Bar area currently vacant

LOCATION AND TRANSPORTATION
* Opposite Crémazie metro station and FTQ complex
* Public transport at the door (31, 361, 56, 146, 19, 192, 460, 54)
* Near Cégeps Ahuntsic and André-Grasset
* Lots of traffic on Lajeunesse Street
* Several daycare centers within 5 min walk
* Essential services within walking distance, including grocery stores, restaurants, cafés and more
* Several primary and secondary schools within walking distance