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Courtesy of Tim A Gartner of MaxWell Progressive

8117 114 Avenue
Zone 05 Edmonton T5B 0C1

$2,125,000
Multi-Family Commercial

Main Photo: 8117 114 Avenue in Edmonton: Zone 05 Multi-Family Commercial for sale : MLS®# E4273872
Photo 1: 8117 114 Avenue in Edmonton: Zone 05 Multi-Family Commercial for sale : MLS®# E4273872
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Status:
Active
Prop. Type:
Multi-Family Commercial
MLS® Num:
E4273872
Build. Type:
Low Rise (2-4 stories)
Fantastic Investor Opportunity Package, cash flow turn key rentals ! 17 Condo Apartment Units in 2 Buildings, minutes apart. 9 units in Parkdale Manor(built in 2009), and 8 units in Parkdale Terrace(built in 2003@ 8021 115 avenue) The Buildings are well managed, well maintained, close to shopping LRT and Trails. The Apartment Units bring a strong monthly rent roll, for the investor, in a fantastic central location .The units have balconies and in-suite laundry, newer and contemporary finishes, with all appliances. These are residual units from the Developer being sold as one block. Bulk Purchase Cash Back of $255,000.00($15,000.00 per unit) is being offered b y the seller as a bulk purchase rebate , that bumps the Cap Rate from 6.2% to 7.1% . Amenities include, Bike Trails, Transit, shopping, These central locations, are 2 bedroom units or one bedroom with a den, and are great for Students and Professionals, as tenants. Ideal to add to an existing portfolio.
Sale Type:
Asset
Transaction Type:
For Sale
Property Type:
Multi-Family Commercial
Construction:
Wood Frame
Building Type:
Low Rise (2-4 stories)
# Units:
17
Tot Pkg Spaces:
1
# Storeys:
4.0
Year built:
2003 (Age: 19)
Total Floor Area:
777 sq. ft.
Lot Area:
0 sq. ft.
Land Use/Zoning:
RA7
Plan:
740868
Title to Land:
Fee Simple
LINC Number:
0032938855
# Elevators:
1
Units Include:
Dishwasher, Fridge, Stove, Washer / Dryer, Window Coverings
Num. of Parcels:
1
Cap Rate %:
7.1
Gross Operating Income:
$248,700
Other Income:
$0
Effective Gross Income:
$236,265
Net Operating Income:
$132,384
Total Oper. Expenses:
$0
Tot Expenses:
$103,881
Entry date:
Jan 14, 2022
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Data was last updated January 22, 2022 at 04:30 AM (UTC)
GREG STEELE
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.