10325 120 Av Nw
120 Ave NW, 118 Avenue, Edmonton, AB, T5G 0S4
Quick Summary
Quick Summary
- Profitable 6-unit corner lot property
- 100% occupancy for the last 8 years
- Potential to increase profit/cap rate by 25%
- Attractive rents for CMHC MLI Select financing
- Convenient location near NAIT, hospitals, LRT
- Major upgrades to parking, boiler, roof, etc.
- Five of six suites recently renovated
- Heating and security systems remotely controlled
$155k of upgrades and renos in the last 7 years. 6 plex Corner Lot 45.7 x 15.2 SQM 100% occupancy for the last 8 years. Current market rates present potential to increase profit / cap rate by up to 25%.Current rent rates may be attractive for CMHC MLI Select financing. All tenants are month to month. Close to NAIT, Royal Alex Hospital,... Show More
$155k of upgrades and renos in the last 7 years. 6 plex Corner Lot 45.7 x 15.2 SQM 100% occupancy for the last 8 years. Current market rates present potential to increase profit / cap rate by up to 25%.Current rent rates may be attractive for CMHC MLI Select financing. All tenants are month to month. Close to NAIT, Royal Alex Hospital, Blatchford and the Future LRT. Major upgrades include parking/sidewalk (3 years), boiler (3 years), hot water tank (4 years), exterior paint (4 years), balconies (4 years), main doors (5 years), roof repairs (2 years), a new mail lockbox, security system, and additional storage space. Five of the six suites have been renovated, and the heating and security systems can be controlled remotely by the new owner. Current rents are $1,100 for two-bedroom units and $900 for one-bedrooms(never raised for years) plus Laundry revenue which can be raised as well. (id:54626)
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