Rare investment opportunity! Don't miss this unique chance to acquire a fully renovated 16-unit building featuring studio apartments. 13 units are fully furnished, equipped, and rented on a month-to-month basis, while three are rented unfurnished on long-term leases. The 13 short term units will be available to the buyer. The property has undergone extensive renovations, including new windows, doors, heating systems, central hot water, electrical systems, and complete remodels of 10 units. It is perfectly located near all services and public transportation. With proper management, the building can generate over $300,000 annually. See Addendum

An environmental assessment was completed, including five boreholes inside and outside the building. A slight contamination was detected outside near the former garage entrance. Estimates for the required decontamination range between $20,000 and $40,000, and the work would require access to the neighbouring property since it affects the side of the building. Excavation of approximately 120 sq. ft. of soil to a depth of 8 feet.
The property is being sold as-is, where-is. The seller will not undertake decontamination prior to the sale and does not wish to allow the buyer to convert units to long-term leases before closing. A fast closing is a priority. The seller is open to offering a reasonable balance of sale to facilitate the transaction.
All offers must remain open for at least 72 hours and include proof of down payment or a mortgage pre-approval. We will hold two days of visits so buyers can visit some units.
The building does not have a permit for short term rentals. Long-term leases are currently in place for units 2, 8, and 10. All other units will be delivered vacant to the buyer. There is also an additional basement unit requiring major renovation.
Items excluded from the sale include all furniture, such as bed frames, mattresses, televisions, nightstands, lamps, tables, chairs, dressers, decorative art, and more.
*Revenues indicated are based on full occupancy in 2023.