Property Information:
Unique opportunity to acquire a beautiful and rare Westmount beauty. 29-plex with potential 3 additional units becoming a 32-plex with an incredible upside and major potential for rent increase. This multi-residential property consists of 28 x 5.5 suites & 1 x 4.5 suite, located in a prime Westmount location, steps from Westmount Park. The property spans over 37,000 square feet with the potential to add 3 more units at the ground/garden level. Each unit features approximately 1,000 SF + | - of living area. The laundry room equipped with 6 machines (3 washers & 3 dryers). 2 Exterior Tandem Parking Spaces.
*The deadline for submitting bids is November 12th at 5 PM.*
Welcome to 438-440 Mount-Stephen!
- 29-plex in a prime Westmount location, just steps from Westmount Park.
- 37,000 square feet on 4 levels, 28 x 5.5 and 1 x 4.5 with potential to add three more 1 bedroom units on the ground/ garden level.
- Each unit features approximately 1,000 square feet + | - of living space.
- Units include hardwood flooring, modern vanities, and clawfoot tubs.
- Laundry room equipped with three washing & 3 dryer machines generating additional income.
- Within walking distance of private and public schools, shopping, restaurants, and public transportation.
Units:
- Original hardwood flooring.
- Bathrooms feature tile flooring, updated vanities, and clawfoot tubs.
- Large windows with an abundance of natural light.
- One of the units is occupied by the concierge.
- Laundry room contains 3 washing & 3 dryers machines.
* The total annual revenue from laundry is $3,800.*
Capital expenditures: (Approx 10 years ago)
- Plumbing upgrades.
- Electrical improvements.
- New windows and doors.
- Repairs to stairs and indoor passageways.
- Roof repairs.
- Maintenance and repairs to walls and ceilings.
- Maintenance and repairs to floors.
- 50% of the property was updated 10-12 years ago due to a fire
- Upgraded heating system.
Square footage is estimated based on building area on 4 levels.
- Entrance for the civic number 440: 25 apartments.
- Entrance for the civic number 438: 4 apartments.
- Bricks repointed 10 years ago +|-.
- Marble staircases.
- 13 renovated units | 16 non-renovated units.
- All windows have been changed 15-18 years ago.
- Fireproof glass doors (grandfathered in).
- Soundproof laundry room.
- Fire alarms to be assumed by the potential purchasers, (contract fall 2024).
- Hot water tanks are owned by the vendors: 40 gallon water tank for each unit; 60 gallon water tank for laundry room.
- Potential to add 2+1 units on RC/garden level at 438 civic entrance upon verification with the city.
The total amount for the insurance (2024-2025) is $25,285.
2 Exterior Tandem Parking Spaces.
Inclusions: As per the leases
Exclusions : As per the leases
Building Features:
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Proximity:
Highway, CEGEP, Daycare centre, Hospital, Metro, Park, Bicycle path, Elementary school, High school, Cross-country skiing, Commuter train, Public transportation, University
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Heating Energy:
Electricity
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Water Supply:
Municipality
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Sewage System:
Municipality
