INVESTORS! Take advantage of the strong rental market with a building that already has been strata titled (17 Individual titles) for future upside. This sharp looking well cared for 17 suite apartment building close to the Red Deer River has had many recent exterior upgrades, including Hardy Plank siding (2023), windows (2023), facia and soffits (2023), exterior LED lighting (2023). All suites have various had upgrades as needed. The suite mix is 9-1 bedroom, 4 2-bedroom and 4 Bachelor suites. Bachelor suites are same size as one bedrooms, just missing a wall. Servicing the tenants is a large laundry room with 2 Coin-o-Matic washers and 2 dryers, as well as a stocked library as they wait for the cycle. The rear parking pad is paved with 20 stalls, off street parking in the front of building is also available. Building has a pitched roof with asphalt shingles. Tenants all pay their power with the exception of one site that is on the common meter. Rents in the building are conservative and could be adjusted upward.
Essential information
MLS® number
A2355988
Status
Active
Price
$2,378,300
Property type
Multi-Family
Type
Apartment
Transaction
For Sale
Living area
8,412 sq ft
Lot size
624 sq ft
Year built
1980
Structure
Low Rise (2-4 stories)
Style
Apartment-Single Level Unit
Listing brokerage
RCR - Royal Carpet Realty Ltd.
Source
Pillar 9™ MLS® System
Condominium
Restrictions
None Known
Interior
Heating
Boiler, Natural Gas, Zoned
Flooring
Vinyl Plank
Appliances
Dishwasher, Electric Stove, Refrigerator
Exterior and construction
Construction
Mixed
Roof
Asphalt Shingle
Foundation
Poured Concrete
Frontage
37.79M 124`0"
Zoning
R-L
Parking
Total parking
20
Community
Subdivision
RRRM
City
Red Deer
Province
AB
Postal code
T4N 4S4
Where it is
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Approximate location, plotted from the listing’s own coordinates.
Cap rate, cash flow and the coverage ratio a commercial lender will look at first.
Automated estimate — not a final number. Figures here are pulled automatically from the MLS® listing and may be incomplete or out of date. Please confirm the correct figures with the Munafa team before relying on them — 587-971-7993.
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An estimate from the numbers above, not an appraisal and not financial advice. Operating costs, vacancy and lending terms all move it. Nothing typed here is sent anywhere or saved.
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25 photos$198,0001213, 924 14 Avenue SW, Calgary
