Over $180K in upgrades and renovations over the past 9 years. 6-Plex on a corner lot (45.7 x 15.2 SQM) with 100% occupancy throughout. Current market rates present an opportunity to increase profit/cap rate by over 30%. Current rents may qualify for CMHC MLI Select financing, though the seller does not accept long-term financing. All tenants are month-to-month. Prime location near NAIT, Royal Alex Hospital, Blatchford, Downtown, and the Future LRT. Major upgrades: New parking/sidewalk, sewer line, boiler, hot water tank, balconies, main doors, mail lockbox, security system, additional storage, and shed. New fridges and some other appliances. Windows re-sealed and framed. Five suites partially renovated, Unit 102 fully renovated. The heating and security systems can be controlled remotely. Current rents: Four 2-bedroom units at $1,100 Two 1-bedroom units at $900. Rents are over 30% below market. Laundry revenue can be increased by over 50%.
Address
10315 120 AV NW
List Price
$900,000
Property Type
Commercial Sale
Area
Edmonton
Sub-Area
Westwood (Edmonton)
Year Built
1972
MLS® Number
E4420438
Listing Brokerage
MaxWell Challenge Realty
Postal Code
T5G 0S4
Zoning
Zone 08
Construction Materials
Wood Frame
