Commercial Real Estate for Sale in Peace River, Alberta $1,800,000

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Peace River (Alberta, CA - T8S1C1)

$1,800,000

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Peace River Town and Country Realty

Andy Gauvreau

(780) 624-1300(Office)

(780) 618-5757(Cell)

(888) 406-4077(Fax)

Email Andy

Details

Address: 7916 99 Street

Type: Commercial

Style: Multi Family, Commercial, Low Rise (2-4 stories)

Year Built: 1976

MLS® #: A2021026

Description

This is a 24 unit apartment building with an electrified parking stall for each unit. There are 4 three bedroom units, 12 two bedroom units and 8 one bedroom units. Rents range from $1350 for a furnished unit to $750 for the smallest one bedroom - the average rental rate is $990 per unit. Renovations have been ongoing since these owners purchased the building with most units now renovated - there are two renovated units vacant currently and 4 units in the process of been renovated with the expectation renovations will be completed in the next few months. The landlord is very particular and will lease the units once a suitable tenant is found. Boiler was replaced in 2011 +/- , Commercial hot water tank replaced in 2013 +/-, Shingles replaced in 2018 +/- and the deck railings on the west side replaced with black aluminum and the east side to be completed this spring/summer. Once completely occupied this building will create revenue of approx $285,000 at current rents. Expenses approx $90,000 year over year to May 31 2022 with the building not completely occupied. Well maintained with regular renovations and updates done. - very good opportunity for the discerning investor

Highlights

▪ Exterior Finish: Construction Materials: Concrete, Wood Frame	▪ Exterior Finish: Foundation Details: Poured Concrete
▪ Heating: Boiler, Hot Water, Natural Gas, Radiant	▪ Construction Materials: Concrete, Wood Frame
▪ Inclusions: Shed	▪ Roof: Asphalt Shingle

P2#1382687482

Information is deemed to be correct but not guaranteed.

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