Active project · Montréal, Bellerive
8 units
Bellerive
— Montréal
Well-served by public transit, close to parks, grocery stores, and neighbourhood amenities. Rental optimization with CMHC MLI Select refinancing.
Total acquisition (including fees)
$1,475,000
$184,375 per unit · 8 units
4.2%
Current cap rate
7.2%
Optimized cap rate
15.7×
Current GRM
10.4×
Optimized GRM
23.9×
Current NOI mult.
13.9×
Optimized NOI mult.
Address disclosed after NDA is signed
$1,031k
Purchase price
$416k
Total deployed
+9.2%
Projected IRR
50%
Participation
Project score
82/100
Montréal location
Roof replaced 2025
Strong rent upside
CMHC MLI Select eligible
Notary fees paid by seller
Rents
Rent table by scenario
Current rents vs. projections by number of successful agreements. Green cells indicate units renegotiated to $1,700/month.
| Unit | Type | Current rent | 4 optimized | 5 optimized ★ | 6 optimized |
|---|---|---|---|---|---|
| #1 | 4½ | $1,279 | $1,279 | $1,279 | $1,279 |
| #2 | 4½ | $969 | $1,700 +731 | $1,700 | $1,700 |
| #3 | 4½ | $824 | $1,700 +876 | $1,700 | $1,700 |
| #4 | 4½ | $916 | $1,700 +784 | $1,700 | $1,700 |
| #5 | 4½ | $1,139 | $1,139 | $1,139 | $1,700 +561 |
| #6 | 4½ | $902 | $1,700 +798 | $1,700 | $1,700 |
| #7 | 4½ | $906 | $906 | $906 | $906 |
| #8 | 4½ | $912 | $912 | $1,700 +788 | $1,700 |
| Monthly total | $7,847 | $10,836 +2,989 | $11,624 +3,777 | $12,185 +4,338 | |
| Annual total | $93,768 | $130,596 | $140,436 | $147,864 | |
Rule of thumb: $1 of additional rent = $20 in refinancing value. Moving from $902 to $1,700 on one unit generates ~$16,000 in additional value.
Operations
Income, expenses & capital required
Complete financial picture at Day 1 and breakdown of investor capital deployment.
Current gross income
Residential rents$92,328
Parking$1,440
Total gross income$93,768
Vacancy & bad debt (3%)− $2,770
Effective gross income (EGI)$90,998
Financial snapshot · Day 1
Purchase price$1,031,000
Price per unit$184,375
Annual expenses$27,338
Current NOI$61,775
Current cash flow$8,116/yr
Current cap rate4.2%
Current NOI mult.23.9×
Rental strategy
Lease negotiation before purchase
Cash-for-raise formula:
Compensation = 24 × (target rent $1,700 − current rent)
Payment: 1 month at signing · balance after notarial act
Compensation = 24 × (target rent $1,700 − current rent)
Payment: 1 month at signing · balance after notarial act
Viability threshold: minimum 4 agreements out of 8 required. Below this, all parties retain their right to withdraw.
Capital required
Total investor deployment
Acquisition & fees
Down payment (15%)$255,000
Building inspection$1,750
Welcome tax (transfer tax)$20,625
Notary feesPaid by seller ✓
Improvements & renegotiations
Heat pump conversion (MLI Select)$30,000
Renovation work$159,000
Cash-for-raise (lease buyouts)$128,304
RoofReplaced in 2025 ✓
Investor capital breakdown (50%)
Down payment (15%)$255,000
Renovation work$159,000
Cash-for-raise (lease buyouts)$128,304
Heat pumps (MLI Select)$30,000
Welcome tax$20,625
Inspection$1,750
Total capital deployed$594,679
Total deployment · 50% participation
Capital only — no operational management required
$594,679
Returns
Optimization scenario comparison
Financial impact by number of units renegotiated. The 5-unit scenario is recommended for CMHC MLI Select refinancing.
Return simulator
Move the slider to adjust the number of units renegotiated to $1,700/month and watch returns recalculate.
Units renegotiated ★ Recommended
5 / 8 units
4 optimized
5 optimized ★
6 optimized
$141,876
Annual gross income
+ $96,121
Recovered at refinancing
$2.08M
Estimated value at refi
+$605k
Value creation
Minimum 4 agreements required for project viability. The 5-unit scenario reaches the DSCR 1.1 threshold for MLI Select and maximizes capital recovery.
4 optimized
4 units renegotiated
Annual gross income
$128,065
Projected cap rate
—
Refinancing recovery
− $10,262
★ Recommended
5 optimized
5 units renegotiated
Annual gross income
$141,876
Projected NOI
$106,300
Optimized cap rate
7.2%
Refinancing recovery
+ $96,121
6 optimized
6 units renegotiated
Annual gross income
$144,825
Projected cap rate
—
Refinancing recovery
+ $150,086
Equity visualization — 5-unit scenario
Value progression and capital recovery
+$605k
Value creation
$96,121
Recovered at refi
$259k
Value / unit post-opti
+9.2%
Projected IRR
Full ratios — Recommended 5-unit scenario
Gross income/yr$141,876
NOI$106,300
Optimized cap rate7.2%
Optimized GRM10.4×
Optimized NOI mult.13.9×
Value at refi$2,080,000
Financing
Two-phase financing structure
01
Bridge financing
Conventional short-term acquisition during the renovation and renegotiation period.
85% LTV
12–18 month term
Renovation & renegotiation period
02
CMHC MLI Select refinancing
After eco-conversion (heat pumps), access to the MLI Select program for institutional financing.
40-year amortization
Minimum DSCR 1.1
$96,121 capital recovery for investor
Partnership
Investment structure
Passive 50% participation — capital contribution only. All management is handled by ImmoMulti.
$594,679
Your capital
Your participation
$96,121
Recovered at refi
+$605k
Value creation (your share)
Manager
ImmoMulti
Full property management
Project structuring & financing
Tenant lease negotiation
Renovation work coordination
CMHC MLI Select refinancing management
Fee: 5% of gross income (after capital recovery)
Investor partner
Your role
Capital contribution only
50% of company shares
Access to financial reports
No operational management required
Profits shared 50/50 after capital recovery
Projected annual appreciation: 3% long term
Timeline
Project schedule
Overview of the first 18 months — from acquisition to CMHC MLI Select refinancing.
Now
Offer accepted
Capital committed
Month 1–2
Lease negotiation
Cash-for-raise
Month 2–3
Notarial act
Closing
Month 3–18
Renovations & eco-conversion
−$189k invested
Month 12–18
CMHC refinancing
+$96,121 recovered
Long term
Distributions
50/50 + 3%/yr
Now
Purchase offer accepted
Initial conditions accepted. Process underway.
Weeks 1–2
Unit visits
Full inspection of each unit. Tenant meetings.
Weeks 2–4
Lease negotiation
Cash-for-raise with each target tenant. Minimum threshold: 4/8.
Weeks 4–6
Due diligence
Legal, financial, and building condition review.
Weeks 6–8
Partnership structuring
Shareholder agreement and company terms.
Month 2–3
Notarial act & closing
Signing at the notary. Notary fees paid by the seller.
Month 3–18
Renovations & eco-conversion
Renovation work ($159k) + heat pumps ($30k) for MLI Select qualification.
Month 12–18
CMHC MLI Select refinancing
40-year amortization · $96,121 capital recovery for the investor.
Long term
Hold & growth
ImmoMulti management · 3%/yr appreciation · 50/50 distributions after capital recovery.
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