36-38 Rue Papineau · 9-unit multifamily

36-38 Rue Papineau is a 9-unit 9-unit multifamily in Gatineau, QC, asking $3,547,900 — $394,211 per door.

That sits above the Gatineau band of $185k - $320k per door. A price above the band has to be earned by rents, condition, or upside that the listing has not yet shown. Gatineau cap rates screen 4.6% - 5.9% against average rent near $1,700 a door.

At 9 units this is a commercial file: five or more units can be underwritten for CMHC MLI Select, where energy, affordability, and accessibility points decide the tier and the leverage. Below that tier the insured stack you modeled may not exist.

Gatineau offers lower entry pricing near Ottawa demand, with Quebec lease rules and local management as key diligence items. Investor demand reads medium, vacancy tight.