5614 55 Street, Red Deer

$999,900

0 Beds
0 Baths
0 Sqft
.34 Acres
0 Garages

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. Feb-2019 to Jan-2020 gross income at $86,172.00. 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) 6 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.

Essential Information
MLS® #CA0185838
Price$999,900
Acres0.34
Year Built1963
TypeMulti-Family
Sub-TypeLow Rise (1-4 Floors)
StatusActive
Community Information
Address5614 55 Street
CityRed Deer
CountyRed Deer County
ProvinceAB
Postal CodeT4N 2J6
Amenities
Parking Spaces20
Parking

Rear Parking, Parking - Extra, Parking - Plug-In, Parking Space(s), Public Parking, 110 Volt Wiring, Visitor Parking

Heating

Baseboard heaters, Boiler, Make-up Air

Exterior
Lot Description125.00X120.00
RoofRubber
ConstructionFrame - Wood
FoundationConcrete
Additional Information
ZoningR2
Listing Details
OfficeCentury 21 Advantage
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