This property is listed by Anahid Shahmoradi of MaxWell Challenge Realty.
Data was last updated 2024-11-26 at 15:43:59 GMT
$155k of upgrades and reno?s in the last 7 years. 6 plex Corner Lot 45.7 x 15.2 SQM 100% occupancy for the last 8 years. Current market rates present potential to increase profit / cap rate by up to 25%.Current rent rates may be attractive for CMHC MLI Select financing. All tenants are month to month. Close to NAIT, Royal Alex Hospital, Blatchford and the Future LRT. Major upgrades include parking/sidewalk (3 years), boiler (3 years), hot water tank (4 years), exterior paint (4 years), balconies (4 years), main doors (5 years), roof repairs (2 years), a new mail lockbox, security system, and additional storage space. Five of the six suites have been renovated, and the heating and security systems can be controlled remotely by the new owner. Current rents are $1,100 for two-bedroom units and $900 for one-bedrooms(never raised for years) plus Laundry revenue which can be raised as well.
Listing Information
- Prop. Type:
- Multi-Family (Commercial)
- Status:
- Active
- City:
- Edmonton
- MLS® Number:
- E4408363
- Neighbourhood:
- Westwood_EDMO
- Area:
- Edmonton
- Province:
- AB
- Listing Price:
- $900,000
General Information
- Year Built:
- 1972
- Zoning/Land Use Code:
- For Sale
- Region:
- Edmonton
Additional Information
- Plan:
- RN52
- Legal Block:
- 3
- Legal Lot/Unit:
- 20
Other Information
- Land Size Hectares:
- 0
- Building Type:
- Freestanding, Low Rise (2-4 stories), Multi Tenant
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.