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Property Description

This is a 24 unit apartment building with an electrified parking stall for each unit. There are 4 three bedroom units, 12 two bedroom units and 8 one bedroom units. Rents range from $1350 for a furnished unit to $750 for the smallest one bedroom – the average rental rate is $990 per unit. Renovations have been ongoing since these owners purchased the building with most units now renovated – there are two renovated units vacant currently and 4 units in the process of been renovated with the expectation renovations will be completed in the next few months. The landlord is very particular and will lease the units once a suitable tenant is found. Boiler was replaced in 2011 +/- , Commercial hot water tank replaced in 2013 +/-, Shingles replaced in 2018 +/- and the deck railings on the west side replaced with black aluminum and the east side to be completed this spring/summer. Once completely occupied this building will create revenue of approx $285,000 at current rents. Expenses approx $90,000 year over year to May 31 2022 with the building not completely occupied. Well maintained with regular renovations and updates done. – very good opportunity for the discerning investor

Address Map
CND
Alberta
Peace River
T8S1C1
99
7916
Street
0
W118° 42' 27.5''
N56° 15' 12.1''
MLS Addon
Century 21 Town and Country Realty
Andy Gauvreau
3
Cal Zone Springbank
2023-01-27
No
: Poured Concrete
No
: Natural Gas, Radiant, Hot Water, Boiler
1011TR
2023-01-27 09:12:14
: Multi Family
: Asphalt Shingle
1
Suite - None
24
0

Commercial For Sale

7916 99 Street, Peace River, Alberta T8S1C1

$1,800,000
MLS® Number #A2021026
Basic Details
Property Type : Commercial
Listing Type : For Sale
MLS® Number : A2021026
Price : $1,800,000
Year Built : 1976
Agent info
Jeff Kushnir
Social Real Estate
Suite 500 - 5940 Macleod Trail SW
Contact Agent