Jasmin Matias

Cell 780-710-0133 | jmatiasremax@gmail.com

Office Listings

Courtesy of Craig D Hummel of Re/Max Excellence

9407 114 Avenue
Zone 05 Edmonton T5G 0K5

$3,499,999
Multi-Family Commercial

Main Photo: 9407 114 Avenue in Edmonton: Zone 05 Multi-Family Commercial for sale : MLS®# E4278277
Photo 1: 9407 114 Avenue in Edmonton: Zone 05 Multi-Family Commercial for sale : MLS®# E4278277
Photo 2: 9407 114 Avenue in Edmonton: Zone 05 Multi-Family Commercial for sale : MLS®# E4278277
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Status:
Active
Prop. Type:
Multi-Family Commercial
MLS® Num:
E4278277
Build. Type:
Low Rise (2-4 stories)
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!
Transaction Type:
For Sale
Property Type:
Multi-Family Commercial
Construction:
Brick/Masonry, Mixed
Building Type:
Low Rise (2-4 stories), See Private Remarks
# Units:
23
Tot Pkg Spaces:
14
# Storeys:
3.0
Year built:
1916 (Age: 106)
Total Floor Area:
7,920 sq. ft.
Lot Area:
0 sq. ft.
Land Use/Zoning:
RF3
Heating Source:
Natural Gas, See Remarks
Plan:
RN43
Title to Land:
Fee Simple
LINC Number:
0015454184
Corner Site, Fenced, Landscaped, Shopping Nearby, Back Lane, Low Maintenance Landscape, Schools, See Remarks
See Remarks
None Known
Units Include:
Fridge, Microwave, Stove
Services Connected:
Electricity, Fiber Optics, Fully Serviced, Garbage Collection, Lane Paved, Natural Gas, Telephone, Septic System, Sewer - Storm, Street Lighting, City Water
Water Supply:
Municipal
Sewer Septic:
Municipal/Community
Fire Protection:
Fire Extinguishers
Reports Avail:
Appraisal, Building Plans, Pro-Forma, Environ. Site Profile, Yes- Phone List Broker
Num. of Parcels:
1
Cap Rate %:
5.6
Gross Operating Income:
$268,428
Other Income:
$5,520
Effective Gross Income:
$273,948
Net Operating Income:
$195,917
Total Oper. Expenses:
$64,609
Tot Expenses:
$64,609
Entry date:
Feb 22, 2022
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Data was last updated June 29, 2022 at 12:30 PM (UTC)
Jasmin Matias
Copyright 2022 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.