32-Unit High-Yield Building in Saint-Rémi


Address: 6 Yvan-Ménard Street, Saint-Rémi (QC)
Asking Price: $4,700,000
Gross Annual Income: $283,176

Exceptional investment opportunity with this well-maintained 32-unit building, offering stable returns and excellent asset value. Situated on a 36,586 sq. ft. lot, it features 47 parking spaces to efficiently meet tenant needs.

Property Features:
Year built: 1987
Metal roof replaced in 2014
All water heaters under 10 years old
Electric heating paid by tenants
8 semi-basement terraces renovated and enlarged in 2016
Meticulously maintained by the same owners since 2000

Investor Financial Analysis:
Gross Rent Multiplier (GRM)

GRM = Asking Price ÷ Gross Annual Income
GRM = $4,700,000 ÷ $283,176 16.6

A GRM below 18 is considered reasonable for a residential building of this quality in the Montreal outskirts.

Capitalization Rate (Cap Rate)

Estimated Annual Expenses:

Municipal taxes (2025): $30,588.72
School taxes (2024--2025): $1,948.64
Electricity (2024): $1,392.99
Snow removal (2024--2025): $4,830.01
Additional snow removal: $552.00
Lawn maintenance (2025): $1,563.66
Property insurance: $13,260.94
Waste and recycling: $4,488.39
Cleaning/maintenance: $2,837.00
Total Annual Expenses: $61,462.35

Net Operating Income (NOI):
$283,176 -- $61,462.35 = $221,713.65

Cap Rate:
$221,713.65 ÷ $4,700,000 4.72%

This cap rate reflects a stable, well-managed asset in a solid rental market, with potential for rent optimization and indexing.

A property of this scale, maintained with such care and offering consistent returns, represents a reliable investment--rare on the market.

PROPERTY PACKAGE -- 40 Units in Saint-Rémi (6 & 10 Yvan-Ménard Street)

Total Price: $7,000,000
Gross Annual Income: $411,396

Two well-maintained buildings (8 units built in 2017 and 32 units built in 1987), electric heating paid by tenants, metal roofs, recent water heaters.

Financial Overview:
Combined net operating income around $163,000, average GRM 17.27, average cap rate 4.62%, offering stable and attractive returns.

Highlights:
Buildings located across from each other, simplifying management
Tenant-paid heating
Optimization potential

This package offers a unique opportunity for investors seeking a solid, high-yield multi-unit portfolio in a growing market.