Description

All offers must be left open for a minimum of 72 hours. Visits with an accepted offer only.

An exceptional multi-residential investment opportunity in the heart of Vieux-Longueuil. This character-rich building was formerly a presbytery--the residence of a parish priest--before being fully converted into residential use in 2018 by the current owner. While it sits adjacent to a church, the property is completely independent and has no connection to the church or its operations.

Currently configured with 20 rental rooms leased to a master tenant under a gross lease (who sublets the rooms), this asset offers tremendous flexibility. It can be kept as-is, converted into studio apartments, or even repurposed into commercial space, with zoning that allows a variety of uses (subject to city approval).

Located steps from CEGEP Édouard-Montpetit, local parks, and community amenities, and just 25 minutes from downtown Montreal, this property is ideal for investors seeking a high-upside project in a prime, well-established neighborhood.

The property offers tremendous flexibility for repositioning:

- Maintain the current rooming-house model

- Convert into studio apartments

- Rezone and repurpose for commercial, multifamily or institutional use

The zoning is permissive and open to various redevelopment possibilities (subject to municipal approval).

The asking price is $1,799,000. $89,950/room. $292 psf.

Total building square footage is 6,150. The property can be delivered vacant.