The most profitable income properties on the Island of Montreal in 2026
Looking for a plex that actually generates income in Montreal? I’ve combed through the publicly available listings currently on the market and ranked the buildings by gross income multiplier (GIM). Here’s what the numbers say—and why the best returns are almost always hiding in the East End.
GIM: the most honest screening tool
GIM is simple: the asking price divided by the published gross annual income. The lower the number, the faster the building “pays for itself.” According to the guidelines used by Montreal investor analysis tools, a GIM of 15 or less is excellent, between 15 and 18 is acceptable, and above 20, the building becomes difficult to operate at current mortgage rates.
For comparison, the capitalization rate for multi-residential buildings in Canadian suburbs was 4.66% in the fourth quarter of 2025, according to the Altus Group—a benchmark for large, stabilized buildings. Small Montreal plexes are in a league of their own, and that’s exactly where the opportunities are.
Today’s top 5
1. 3971-3975 Hochelaga Street (Mercier/Hochelaga-Maisonneuve) — GIM 12.8
The ranking’s champion: $1,222,000 for published gross income of $95,436, for a calculated gross yield of 7.81%. The 1947 building has two residential units and a 2,400 sq. ft. commercial space. The commercial income explains this exceptional GIM—with the risk that comes with it: commercial vacancies aren’t managed the same way as residential vacancies, and the price is subject to GST/QST.
2. 7202-7204 d’Iberville Street (Villeray) — GIM ~13.0
A 1946 duplex “optimized” into a triplex with a bachelor apartment, across from D’Iberville metro station: $849,900, with itemized income of $65,136. Fully rented, but furnished—income may be inflated by this rental arrangement. The listing is a few weeks old: verify it before getting carried away.
3. 8-plex in Montreal North — GIM 14.49
The lowest price per unit in the ranking: $231,250 for 8 units (2× 3½, 2× 4½, 4× 5½), at $1,850,000 with $127,650 in income. All apartments were renovated in 2025, and the roof dates from 2020. One condition to know about: the seller requires the existing mortgage to be assumed at 4.75%.
4. 5890 Chauveau Street (Mercier/Hochelaga-Maisonneuve) — GIM 14.72
A detached 1957 fourplex with a double garage: $935,000, income of $63,540, or $233,750 per unit. A pure plex, with no commercial space, in the area that dominates this ranking.
5. 4137-4139 Sainte-Catherine Street East — GIM 14.97
Five units (4 residential + 1 commercial space of 1,950 sq. ft.) for $1,499,000 and published income of $100,104. Once again, the commercial space lowers the GIM—analyze it as a mixed-use building, not as a residential plex.
What the ranking tells us
The East End dominates. Mercier/Hochelaga-Maisonneuve has the best GIMs, with prices per unit ranging from $234,000 to $333,000 for pure plexes. Just behind the top 5, the same area shows up again: Adam Street (GIM 15.11), Du Quesne Street (15.25), French Street (15.40), and Rameau Street (15.42).
The contrast is striking. A “well-kept” triplex in Saint-Léonard is listed at $1,198,000 for $60,000 in income—a calculated GIM of 19.97 and $399,333 per unit. You’re paying for the location, not the return.
Commercial space and furnished rentals distort the comparison. The top two owe their positions to a commercial space or furnished rentals. Always compare apples to apples.
Net cap rates are almost always missing. Public listings don’t publish taxes or complete expenses: it’s impossible to calculate a true capitalization rate without the seller’s documents. Only one building in my selection published net income that made a calculation possible—3.52%. So any serious ranking must be based on GIM, then validated against the leases and actual expenses.
Before making an offer
A low GIM is a starting point, not a guarantee. Request the leases, rent roll, and actual expenses, deduct a vacancy allowance, and budget for repairs: several of these buildings date from 1904 to 1947. That’s where the real return is determined—in the documents.
Looking for an income property in Montreal or elsewhere in Quebec or Ontario? Give me a call: we’ll go over the numbers together—the real ones.
By Iannick Champagne, RE/MAX real estate broker — Hall of Fame · 450-566-1173 · iannick.com