Selling a plex in Montréal means selling an asset whose value is driven by numbers, not emotion. ImmoMulti buys plexes directly in Montréal — duplex, triplex, quadruplex, 5-plex and above — and delivers a priced offer within 48 hours, no commission and no public listing. In 2025–2026, the median plex price in the Montréal region was rising to approximately $840,000 to $865,000, up 7 to 8% year-over-year according to APCIQ. This 2026 guide covers all plex types: what they're worth by neighbourhood, how to value them using cap rate and GRM, and how to choose between a broker, a direct sale or a specialist buyer to maximize the net in your pocket — whether you're selling with or without sitting tenants.
What is a plex and why is it so sought after in Montréal?
A plex is a residential building that brings together multiple units under one roof on a single lot. The term covers an entire family of properties: duplex, triplex, quadruplex, 5-plex and beyond. It is an architectural signature of Montréal, with its exterior staircases and stacked units.
Why does the plex remain so sought after? Because rental demand stays strong. Despite a slight uptick, the vacancy rate in the Montréal region was around 2.9% in 2025 according to CMHC — still below the equilibrium threshold of 3%, and even tighter for the most affordable units (around 0.8% in the lowest price range, as an indicative figure). Sought-after plex neighbourhoods such as Rosemont–La Petite-Patrie, the Plateau-Mont-Royal, Villeray, Mercier–Hochelaga-Maisonneuve and Verdun attract both investors and owner-occupants. The result: even when the broader market slows, plexes keep trading.
Duplex, triplex, quadruplex, 5-plex: what differences matter when selling?
The "plex" varies by number of units. This distinction matters because it influences the buyer pool, financing and the valuation method.
- Duplex (2 units) — often purchased by an owner-occupant who lives in one unit and rents the other. Strong demand, accessible residential financing.
- Triplex (3 units) — the classic Montréal plex. Good balance between income and accessibility; still eligible for residential financing.
- Quadruplex (4 units) — the last tier generally financed as residential. Favoured by investors seeking more income without crossing into commercial financing.
- 5-plex and above — shifts to commercial financing (5 units and up). Valuation becomes almost entirely income-based, and the typical buyer is an investor.
Beyond 5 or 6 units, the term selling an income property is more common than "plex," but the logic remains identical: the higher and better-documented the net income, the higher the value.
How do you value a plex by its rental income: cap rate and GRM in practice?
Unlike a house, a plex is valued by its numbers. Two tools dominate the analysis, and it is wise to cross-check both.
The Gross Rent Multiplier (GRM)
The GRM multiplies annual gross income by a market-observed factor. In Montréal in 2026, this multiplier is often between 12 and 14 (indicative). A plex generating $60,000 in gross income with a GRM of 13 would therefore be worth, as a first approximation, around $780,000. This is quick but approximate: the GRM ignores expenses. To go further, use our GRM calculator.
The cap rate
The cap rate divides the net operating income (NOI) — income minus expenses, before mortgage — by the price. A lower cap rate means a higher price. It is the preferred method of investors and appraisers. To understand the calculation in detail, see our page on the cap rate calculator and our guide on calculating multiplex yield.
Key takeaway
Before setting a price or accepting an offer, start from your actual figures for the past 12 months: current leases, income received, taxes, insurance, utilities, maintenance. Credible net income is worth more than an optimistic listing price.
How much is a plex worth in Montréal by type in 2026?
At the start of 2026, the median plex price in the Montréal metropolitan area was around $840,000 to $865,000, up approximately 7 to 8% year-over-year according to APCIQ — even as the broader real estate market was slowing. The plex is an exception, driven by rental demand.
The ranges below are provided for informational purposes only: the actual price of a plex depends on its type, neighbourhood, condition and above all its net income.
| Plex type | Units | Indicative range (Montréal, 2026) |
|---|---|---|
| Duplex | 2 | ≈ $550,000 to $850,000+ |
| Triplex | 3 | ≈ $750,000 to $1,100,000+ |
| Quadruplex | 4 | ≈ $900,000 to $1,400,000+ |
| 5-plex and above | 5+ | Based on NOI and cap rate |
A duplex in a more affordable area (such as Montréal-Nord) can be under $650,000, while a plex in Rosemont or the Plateau often exceeds a million. From the 5-plex onward, the price is calculated almost exclusively by income: forget neighbourhood comparables and focus on net income.
Is it better to sell a plex with or without a broker in Montréal?
No law requires a property owner to use a broker to sell a plex in Québec. You have the choice.
Selling with a broker
- Advantages: broad exposure (typically via Centris), professional marketing, guidance through negotiation and paperwork.
- Disadvantages: a commission often of 4% to 7% of the price (tens of thousands of dollars on a plex), timelines that can stretch into months, and public visibility that not all sellers want.
Selling without a broker
- Advantages: zero commission, savings stay in your pocket; more discretion; a single point of contact if you deal directly with a specialist buyer.
- Disadvantages: you need to build your own income file and validate the value. Hence the importance of a reliable calculator before discussing price.
Selling without a broker doesn't mean selling for less. A serious buyer prices based on net income, not on whether an intermediary is involved. The key is to compare the net in your pocket, not just the listed price.
How do you sell a plex quickly in Montréal without a public listing?
The fastest route to sell a plex in Montréal is a direct sale to a specialist buyer, such as ImmoMulti. The principle is simple: you share your income and expenses, the buyer analyzes the figures and delivers a priced offer — sometimes within 48 hours — followed by a notarial signing within a few weeks.
- No brokerage commission.
- Speed: no public listing, no mass showings, no drawn-out financing conditions.
- Discretion: your tenants and neighbours are not alerted. The transaction can remain off-market.
- Sitting tenants: leases follow the property; the buyer takes them over as is.
Before accepting anything, validate the value yourself with the purchase offer calculator. You will know whether the offer properly reflects your plex's net income.
What mistakes should you avoid when selling a plex in Montréal?
- Pricing by gut instinct based on house comparables rather than net income. Cap rate and GRM anchor your expectations.
- Presenting vague figures. Outdated leases or poorly documented expenses drive away buyers and push the price down.
- Forgetting the tax implications: capital gain and CCA recapture can reduce your net proceeds. Consult a tax accountant.
- Neglecting confidentiality by publicly listing a plex you would prefer to sell discreetly.
- Accepting the first offer without having validated the property's value yourself.
In summary
Selling a plex in Montréal in 2026 remains advantageous: rental demand is strong and median prices are rising. Start from your actual income, value using cap rate and GRM, then choose the selling method that matches your priorities. If speed, zero fees and discretion matter, a direct sale to a buyer deserves serious consideration.
