BUY WITH CONFIDENCE - operating at a 5.6 cap rate and almost a million dollars of renovations and upgrades completed in the last 3 years! 1916 building but with all the upgraes effective age is estimated to be only 20 years old. A strong mix of recently renovated units 10x 1 bedroom (rents from $900 - $1113 / month)and 13 x bachelor suites (Rents from $924 - $1040/ month). 14 parking stalls (some energized) on a newly gravelled lot. An extensive list of capital improvements is available. Registered with the crime-free multi-housing program. Has had asbestos remediated, newer boiler and 2 of 4 hot water tanks new. There is nothing left to do with this property other than managing the units. If you are looking for turn-key you have found it - most units have a gas stove. All units come with a stove, fridge and most have a microwave, Coin-o-Matic laundry on site. This is truly an investor's dream building!More details
Great building, great locations. 24 Units, all separately titled. The Building consists of 19/ 1 Bedroom Units, 4/ 2 Bedroom Units and 1 Studio.More details
Courtesy of Heather J McSporran-Heil of
RE/MAX River City
Status:
Active
MLS® Num:
E4236696
Build. Type:
Freestanding
Floor Area:
4,910 sq. ft.456 m2
Excellent 6 plex investment property 6-plex residential multi-family complex located in Downtown-city center of Spruce Grove on Mcleod Avenue. Built in 2001. The building features 6 residential units. Two-2 bedroom loft style units 936 sq.ft each. Four-1 bedroom units. Two of the 1 bedroom are loft style units on 3 levels. Two of the 1 bedroom units are bungalow style. All units include full sized refrigerators, electric ranges, bi dishwashers, washers, dryers. Insuite laundry and energized parking stalls. 9' ceilings plus 14' ceilings in loft style units. 5/6 units are upgraded with new flooring and appliances. The building is centrally located to all banking, shopping, plus eateries. Public transportation is available to Edmonton.More details
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