239-243 Boul. St-Joseph O. · 15-unit multifamily

239-243 Boul. St-Joseph O. is a 15-unit 15-unit multifamily in Montréal, QC, asking $2,450,000 — $163,333 per door.

That sits below the Montreal band of $190k - $340k per door. A price under the band usually means condition, location, or an in-place rent roll well below market — confirm which before treating it as a discount. Montreal cap rates screen 4.8% - 6.2% against average rent near $1,850 a door.

At 15 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.

Montreal remains a compelling income-market candidate, with better yields offset by Quebec-specific lease and regulatory diligence. Investor demand reads high, vacancy tight.