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OFFER DEADLINE
First Come, First Serve Basis:
This offering is only available through an online offer submission as outlined below:
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Offers should be submitted to the listing brokers by email at info@fbgcommercial.com
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Offer structure should include the following:
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Purchase Price
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Proposed Earnest Money Deposit
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Proposed Due Diligence & Closing Period
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Evidence of Adequate Funds
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Company Profile
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Due Diligence package available for download and review
OVERVIEW
FBG Commercial is proud to present Résidences D'Youville, a 52 units, semi-autonomous, retirement home located in beautiful Châteauguay. This unique investment opportunity is overlooking the Châteauguay River, a natural feature that separates this building from the competition. The façade of the building is considered a historical part of the town, that use to belong to Mr. Cardinal Léger himself.
Facing current management issues, the future value lies in finding the right operator to give the residence a needed upgrade requiring minimal capital. The business itself, once stabilize, is a very lucrative return on investment considering the acquisition price is under the current municipal evaluation. The second option is to convert the asset into multi-family as the zoning by-laws allows this process pending the city approval of a proper project. 12 outdoor parking spaces line the property for easy accessibility + 45 more parking spaces are located right across the street.
Current financial information do not reflect the full potential of this investment as 50% of the units are vacant. With the right ownership, there are many ways of generating great income for years ahead. A residence that is very easy to manage, the area lacks mid size retirement homes as more and more large scale senior residences are being built, leaving an opportunity to seize for all of the seniors who prefer a more comfortable way of living. Head over to the highlights to see all of the amazing features this property offers.
Contact us for more information!
INVESTMENT HIGHLIGHTS
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52 units autonomous and semi-autonomus retirement home
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The opportunity to establish an immediate increase in revenues
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3 meals per day / electricity / housekeeping and bedding included
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Hair salon / Leisure / Pastoral / Mass, all onsite
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The environmental is clean as they refinanced the property in 2021
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Property condition is in great shape.
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Extension done in 1998 and 2005
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Camera monitoring system, Floor with coded door
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Wheelchairs accessible
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Sprinkler system and fire alarm up to date
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50% vacant for easy conversion or increase in rentals
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Facing the Chateauguay river
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Zoning allows for multi-family property, as per city regulations
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Near all amenities, a walk away from a large park, bus stop and anchor tenant stores for shopping and leisure's
PROPERTY DETAILS
Price $3,595,000
Number of Units 52
Price / Door $69,134
Property Type Retirement Home
Potential Cap Rate 10%
Year Built 1926
Building sqft 29,173
Potential Average rent/Unit $2,162
Potential NOI $416,198
PHOTO GALLERY
52
UNITS
29 173
SQFT
1926
YEAR BUILT
MARKET SPOTLIGHT
APARTMENTS
The divisions throughout :
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Under 300sqft x17
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Between 300-400sqft x31
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Over 400sqft x4
The current average rental prices for a unit is at $2023/month. The potential value is based on a monthly rental of $2162.
LOCATION ADVANTAGE
Located in Chateauguay, this city is 5min away from the island of Montreal. Its closeness to the city center makes it an easy living location of choice for retirees. Facing and overviewing the river is a huge feature to feel right at home. With 18% of the city's population being over 65 years of age, the demand for residence will only increase.
GEOGRAPHIC MAP
CONTACT US
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We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. The Purchaser and his team should conduct their own investigation of the property and transaction.