can i get an opinion on these two properties in sherbrooke QC?
hey all, i was wondering if some more veteran investors in canada (even better quebec) can give their opinions on these two quintuplexes that i'm currently looking at in sherbrooke, and my analysis of the properties
property #1: quintuplex with gross rent 28,260/yr with asking price of 150k
https://www.centris.ca/en/5plex~for-sale~fleurimon...
pros:
cheap, high cash flow, downtown
cons:
old (built ~1900, in a somewhat seedy part of town)
property #2: quintuplex with gross rent 27,360/yr with asking price 200k
https://www.centris.ca/en/5plex~for-sale~mont-bell...
pros: relatively cheap, a bit newer (1950), good location (downtown+near stores)
cons: on a busy road (kind of noisy), some grafitti on the side (indicates poorer neighbourhood)
what do you think? obviously the first deal is much better in terms of numbers, and its been on the market for almost 2 years now.
anything i should watch out for when looking at these types of properties (low cost multiplexes in questionable neighbourhoods)
thanks,
Russell