1705777467 Sold for double after three years

Sold for double after three years

Hundreds of properties in Quebec change hands every day, most of them without us knowing the exact details. That was before we became interested… Here are the latest transactions that caught our attention.

A Montreal residence in the affluent Outremont neighborhood sold just before Christmas for $3,855,000, almost double what it sold for three years earlier.

The 260 square meter stone residence is located at 754 Avenue Antonine-Maillet and has five bedrooms, four bathrooms and a garage over two floors.

Immo Outremont

Bardagi Real Estate Team, Re/max

Originally built in 1939, this luxurious property underwent extensive expansion and renovation work in 2023. A large terrace decorates the outside of the building, which is located on a large plot of 676 m2.

The selling owner, a man named Guillaume Dumas, purchased this property from Marcel Jodoin in January 2021. According to the deed of sale viewed, Mr. Dumas had only paid $2 million at that time.

Immo Outremont

Bardagi Real Estate Team, Re/max

Almost three years later, the same property was listed for sale for double that amount, $4 million. Finally, the documents signed before a notary on December 20, 2023 show a final sale for a slightly lower amount, namely $3,855,000.

In the most recent municipal assessment roll, this residence was assigned a value of $2,211,800. This was a 28% increase from the previous valuation of $1,728,000.

In 2023, municipal taxes were $13,482. Added to the purchase price for buyers was a $107,328 transfer tax payable to the City of Montreal.

– In collaboration with Philippe Langlois

Excerpted from the Journal's weekly real estate column. Have you caught wind of an interest rate transaction? Do not hesitate to send it to [email protected].