Rare opportunity. 14-plex in a sought-after location. 5 units have been fully optimized and renovated from A to Z. The remaining 9 units are under an affordable housing program until 2032. Numerous renovations carried out, including plumbing, kitchens, bathrooms, partitions, partial electrical, roof, some windows, and patio doors etc. The property consists of two side-by-side 7-plex buildings. Spacious units with separate electricity and gas meters for all tenants. The building on the right also includes a garage. See addendum.

The buyer must assume the existing mortgage: Principal of $2.5M, interest rate of 4.10%, amortized over 50 years, with monthly payments of $9,882. The buyer is responsible for all costs associated with the transfer (approximately $15,000) including CMHC fees, lender fees, legal fees, and insurance reviews. The property benefits from long-term CMHC-insured financing under an affordable housing program. The seller has advised that 9 units are rent-controlled for 10 years from the 2022 purchase date, with a maximum rent cap of $1,090/month.
All offers must remain open for at least 72 hours and include proof of down payment or a mortgage pre-approval. Deposits are not required but are appreciated. Two days of visits will be scheduled to allow buyers to tour some of the units.