$10,700,000
ULS: 14256705
16+-Plex for sale - Mascouche (Ville)
663 - 667 Mtée Masson, Mascouche (City)
The elegant Square Masson. Luxurious building of 18 apartments including 2 commercial spaces, indoor garage for 30 cars and 3 elevators. Located in the heart of Mascouche, the building offers chic, elegance and a lifestyle like no other. See the photos and video. Almost $600,000 in annual income and 2 exceptional mortgages to be assumed by the buyer. The 1st is at a rate of 2.08% maturing in March 2031, and the 2nd at 2.82% maturing in December 2031. A unique investment in a majestic, high-end, well-maintained building with most desirable tenants. Le Square Masson, whose luck is it?
Sale without legal warranty of quality, at the buyer's risk and peril.
Addendum
TRANSFER DUTIES EXEMPTION
The seller might offer the buyer the possibility of purchasing the company (100% of the shares) that owns the building, to be exempt from the Property Transfer tax of +/$311,733. Note that the company only holds this building as an asset and the financial statements are prepared by a CPA firm. All subject to an accounting and legal review of course.
SELF MANAGED BUILDING
Building has a Property Manager who looks after all service calls, repairs, rentals and day-to-day oversight
DETAILS OF THE 2 LOANS THAT ARE TO BE ASSUMED BY THE BUYER:
LOAN 1
. Initial loan amount: $5,074,109.99
. Monthly Payment (C+I): $17,021.87
. Term : 126 months
. Interest rate: 2.080%
. Amortization period 35 years
. Date of the first payment: October 2020
. Date of the last payment: March 2031
. Balance owed on June 1, 2024 = $4,687,725
LOAN 2
. Initial loan amount: $1,232,031.68
. Monthly Payment (C+I): $4,607.46
. Term: 118 months
. Interest rate: 2.820%
. Amortization period: 35 years
. Date of the fist payment: March 2022
. Date of the last payment: December 2031
. Balance owed on June 1, 2024 = $1,182,060
PROPERTY DESCRIPTION
. The building is comprised of 18 units of which 2 are commercial spaces, a 30-car indoor garage and 3 elevators
. The 2 commercial spaces are a hair salon on the ground floor and an esthetics salon on the 2nd. GST and QST will apply on these 2 commercial spaces.
. 12 X 5 ½s and 6 penthouses on 2 levels
. The 5 1/2s measure approx. 1,490 sq. ft. and the penthouses 2100 sq. ft.
. Concrete floors - Superior soundproofing
. The Penthouses have a huge living/family room on the 2nd level with a large terrace - watch the video
. Laundry room in all apartments
. Large walk-ins in all apartments
. Quartz kitchen counters
. 22 secure-access storage spaces (lockers)
. 2 electric vehicle charging stations
. Automatic irrigation system in the garage
. 10 cameras installed inside and outside - connected to the internet + DVR
. Intercom with camera - wired installation
. Sun protection film installed on 3 stairwells
. Fire extinguishers installed in stairwells and garage
IMPORTANT CONSIDERATIONS
. gas fireplace installed in all apartments
. 2 gas fireplaces in all penthouses, one on each level
. Heating is gas - forced air. Water heaters are also gas-fired. Gas consumption paid by the tenants
. Water heaters belong to the building
. Heated floors in all bathrooms and powder rooms
. Smoke detectors installed in all apartments and connected to the central alarm panel
. Central alarm panel tested annually by Viking - certificate of compliance on hand
. Magnetic key to enter the building and a remote control for the garage
OTHER
. Dogs are prohibited, however permitted on request only
. Snowblower included in sale price
. Website included in sale price - visit squaremasson.com
. Non-smoking building
. Bar-B-Q allowed
Building details and property interior
Dimensions
183' 3" X 74' 4" irr.
Year constructed
2019
Garage
Attached, Heated
Washer/Dryer (installation)
Laundry room
Bathroom
Separate shower
Lot and exterior features
Lot area
2,891.30 m²
Parking (total)
Garage (30)
Proximity
Hospital, Metro, Park, Highway, Elementary school, High school, Bicycle path
Characteristics
Heating System
Forced air
Heating Energy
Natural gas
Water Supply
Municipality
Sewage System
Municipality
Environmental Study
Phase 1 (2020, 04)
Financial details
Municipal assessment (2019)
- Lot assessment
- $ 733,700
- Building assessment
- $ 4,236,300
- Total
- $ 4,970,000
Taxes
- Municipal (2024)
- $ 69,175
- School (2024)
- $ 4,526
- Total
- $ 73,701
Annual expenses
- Insurance
- $ 15,980
- Total
- $ 15,980
Energy expenses
- Electricity
- $ 3,778
- Gas
- $ 1,197
- Total
- $ 4,975
Gross annual revenues (potential)
- Residential
- $ 509,340
- Commercial
- $ 76,800
- Parking
- $ 4,800
- Total
- $ 590,940
Inclusions and exclusions
Inclusions
15 appliances and 1 snow plower sold as is without legal warranty
Mortgage payment calculator
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