Property Description

The buyer must assume the existing mortgage:
Principal of $2.5M, interest rate of 4.10%, amortized over 50 years, with monthly payments of $9,882.
The buyer is responsible for all costs associated with the transfer (approximately $15,000) including CMHC fees, lender fees, legal fees, and insurance reviews.
The property benefits from long-term CMHC-insured financing under an affordable housing program. The seller has advised that 9 units are rent-controlled for 10 years from the 2022 purchase date, with a maximum rent cap of $1,090/month.

All offers must remain open for at least 72 hours and include proof of down payment or a mortgage pre-approval. Deposits are not required but are appreciated.
Two days of visits will be scheduled to allow buyers to tour some of the units.