FIVEPLEX · WEST LACHINE
31–41, 47e Avenue
Do the income and recent sales support the asking price?
$1,300,000–$1,450,000
The income comparison suggests negotiating below $1,599,000. Applying the six sales’ median gross income multiple indicates approximately , before adjustments.
The upper end needs supporting evidence. The large lot, four-car garage and location near the river are advantages. These six transactions do not isolate the dollar value of that premium.
This range is a preliminary brokerage opinion, subject to a visit and supporting documents. It is not an average of all methods or a confirmed final value.
The property at a glance
Centris listing ↗The current listing launched on October 21, 2026 (Centris #16089494) at $1,599,000. A previous cancelled listing, #28565805, asked $1,639,000; its original launch date has not been verified. October 20 is the brokerage contract date, distinct from publication.
Rental details and items to verify
The rent schedule totals $6,845/month. No additional garage income is added: four leases already include garage spaces. Verify the signed leases, renewals, actual expenses and building condition. The seller’s declaration says apartment 33 was regularized through permits in 2019; the permits and final municipal confirmation remain to be obtained.
Lot: approximately 1,031 m². Building dimensions: 18.87 × 10 m, an indicative rectangular footprint of 188.7 m². Total floor area is not provided. The basement and garage have not been added to an assumed living area.
Six sales recorded as sold in 2026
Two fiveplexes in Lachine and four five- or six-unit properties in LaSalle. The initial search returned only two residential five- or six-unit sales in Lachine. LaSalle provides wider context, with differences in location to consider.
Select the sales to include in the medians. The two Lachine sales are the closest geographic starting points. Taxes-only expenses are common in Centris plex listings and are not a deficiency unique to this property.
| Include / property | Sold / units | Sold price | Annual gross | GIM | Reported net* | NIM* | Price / unit | Assessment / ratio | Building / lot |
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Apply the multiples to the property
These indications recalculate using the selected sales. They are mechanical comparisons before adjustments, with different strengths and limitations.
The gross income multiple provides an initial income comparison. Price per unit does not fully capture differences in rents, land and garages. The assessment ratio can indicate a higher value, but the municipal roll is a tax assessment with an earlier valuation reference date. Reported net income multiples remain useful when expenses are calculated consistently. Here, two sales also include insurance, so the reported net figures are not fully harmonized.
At $1.40M, the property represents 17.04× reported rents; at $1.45M, 17.65×. Both exceed the six-sale median and require a supportable premium. A visit and supporting documents are needed to assess that premium.
Reported net income and ownership costs
The listing reports $73,409 after deducting $8,731 in taxes. This is a common Centris reporting basis and can be used for comparisons on the same basis. Its 4.59% reported-net yield at the asking price is separate from a return calculated after full operating costs. The optional scenario below helps estimate ownership costs; its assumptions are not additional verified seller expenses.
Editable ownership expense scenario
Illustrative assumptions, except the reported rent, tax figures and $18/month water-heater rental. Financing, income tax and depreciation are excluded. Budget major capital work separately.
Formula: gross income − vacancy − taxes − insurance − maintenance − management − services = scenario NOI. Capitalized value = NOI ÷ target rate. The reader chooses the target rate; it is not a market cap rate established from these listing expense figures.
Sources, scope and limitations
Centris / Matrix listing records and listing activity reviewed November 13, 2026. “Sold” means the Matrix sold-status date, not an independent check of the notarized deed. For 9503–9509, boul. LaSalle, the offer was accepted in September 2025 and the sold status recorded in February 2026. The Dorval candidate sold in November 2025 was excluded.
The initial search filtered status changes in 2026; each selected sold date was then checked individually. These are selected comparables, not an exhaustive survey of all western Montréal sales.
Income is drawn from historical sale listings. Vacancies and estimated rents are identified. No hypothetical rent increase is built into the subject’s value. Reported net figures are not audited or fully harmonized. A blank expense field does not mean zero cost. Taxes-only reporting is common; two comparables additionally report insurance.
Municipal assessment years are shown for each property. Only sales with a 2026 assessment are used to apply an assessment ratio to the subject. Tax assessment ratios are context, not independent proof of market value.
Areas distinguish building dimensions, calculated rectangular footprint and reported living area. Published metric dimensions are used. No price per square foot of total floor area is calculated without consistent area data. Québec room-count labels such as 4½ are retained as property descriptions.
Albums contain selected historical listing photos, which help compare apparent condition but do not replace a visit or establish current condition. Owner details, tenant details and broker-only instructions are not published.
Before an offer: obtain signed leases and renewals, rent collection records, insurance and service costs, repair invoices, planned capital work, municipal permits and final confirmation for the fifth apartment. The seller reports regularization in 2019; supporting municipal documents have not been independently verified. The April 2026 location certificate has been reviewed; its easements and boundary observations require a notary’s review. No arbitrary dollar adjustments have been applied for lot, garage, location, condition or occupancy differences.
Preliminary brokerage review · Andrew Greiss. Subject to revision after a visit and supporting documents. No client message has been sent.