• 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
  • 5614 55 Street
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
Land
Size Total15000 sqft|10,890 - 21,799 sqft (1/4 - 1/2 ac) SewerMunicipal sewage system
Size Irregular15000.00

Listing Office: Century 21 Advantage

Data Provided by Central Alberta REALTORS® Association

Last Modified :09/02/2021 02:50:36 PM

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Jason Walz & Shelaine Oliver
Sales Representatives
Call Us Now!
Shelaine Oliver: 403-348-1471
Jason Walz: 403-505-0039

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