2238 - 2254 Rue Schulz,
Saint-Jérôme (Laurentides), J7Y0J9

Description of the property for sale

Located in a sought-after and expanding residential area of Saint-Jérôme, 2238--2254 Rue Schulz presents an attractive opportunity to acquire a well-designed, purpose-built 32-unit residential complex, consisting of four separate and essentially identical 8-unit buildings, each situated on its own lot.

Constructed in 2014, the property offers a particularly appealing combination of modern construction, spacious apartments, strong tenant appeal, and straightforward operations. The unit mix consists of 24 three-bedroom apartments and 8 very spacious two-bedroom apartments, with every unit offering more than 1,000 sq. ft. of living space.

The apartments feature spacious open-concept living, dining and kitchen areas, creating generous living spaces with a condominium-like feel. Beautiful bathrooms, dishwashers, washer/dryer hookups and large balconies for every unit further enhance the quality and desirability of the apartments. These are exceptionally well-maintained units that have proven highly attractive to tenants.

The property is particularly appealing from an operational standpoint. Heating and electricity are paid directly by the tenants, significantly reducing the landlord's utility expenses. Each unit is equipped with electric baseboard heating and electric hot water, along with individual 100-amp electrical panels. Laundry hookups in every apartment.

The four buildings collectively provide 48 outdoor parking spaces, with 12 spaces serving each building. An efficient and reliable maintenance team is already in place at a reasonable cost, helping keep the property in excellent condition while making the complex notably easy to operate and maintain.

There is also rental upside to be captured. A few of the existing units are currently rented below prevailing market levels, providing an opportunity for the new owner to increase rental income as leases turn over and rents are adjusted in accordance with applicable rules. This creates additional potential for revenue growth while benefiting from an already established and highly desirable rental product.

LOCATION

The property enjoys a convenient Saint-Jérôme location close to everyday amenities, schools, healthcare, shopping, recreation and public transportation. Carrefour du Nord is nearby, while the Saint-Jérôme EXO train station provides convenient commuter access. The surrounding Laurentian market continues to attract residents looking for spacious, quality housing at an attractive value.

Notable nearby amenities include:

Parc de la Durantaye -- recreation and green space
Carrefour du Nord -- shopping, restaurants and services
Saint-Jérôme EXO Train Station -- commuter rail transportation
Hôpital de Saint-Jérôme - healthcare services
Cégep de Saint-Jérôme.


CADASTRAL DESIGNATION
-2238 SCHULZ : 5 115 435 Cadastre du Québec
-2242 SCHULZ : 4 032 156 Cadastre du Québec
-2250 SCHULZ : 5 115 433 Cadastre du Québec
-2254 SCHULZ : 4 032 155 Cadastre du Québec

Sale with exclusion(s) of legal warranty