5614 55 Street Red Deer, Alberta - MLS A1067856

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**5614 55 Street, Red Deer, Alberta, T4N2J6**
Property TypeOther	Built in1963
Lot Size15000 square feet

THIS 12 SUITE APARTMENT BUILDING, features 11 (2) Bedroom suites & 1 (1) Bedroom suite. FORECASTED INCOME W/ 10% VACANCY RATE WILL BRING IN OVER $100,000/YEAR IN GROSS INCOME! 3% Net Cap rate, based on asking price. 2 commercial coin-op washers & dryers. Expenses have been higher than average over the past several years, due to the many upgrades to suites. NEW CARPET, NEW LINOLEUM, FRESH PAINT IN MANY OF THE SUITES, NEW BATHS & more. Not to mention, Roof just resurfaced w/rubber membrane roofing in November of 2019 ($20,000) 3 units are currently Vacant due to renovation work, but are filling up slowly with new rent rates and longer terms. Strong potential to add to your rental portfolio, situated over 5 lots (125' wide) with 20+ stalls for parking. Each unit has one designated stall w/ power plug in. Visit REALTORS® website for more details. (id:30519)

**Details**
OwnershipFreehold	Parking Spaces20
Plan3331AJ	TransactionFor sale
Zoning DescriptionR2

**Building**
BasementUnknown	Constructed Date1963
Construction MaterialWood frame	Fire ProtectionAlarm system
FlooringCarpeted	FoundationPoured Concrete
Bathrooms (Total)0	Heating FuelNatural gas
HeatingBaseboard heaters	Total Finished Area3143.09 sqft
TypeMulti-Family	Utility WaterMunicipal water