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Courtesy of John W Carter of RE/MAX River City

11140 108 Avenue
Zone 08 Edmonton T5H 3Z3

$1,888,888
Multi-Family Commercial

Main Photo: 11140 108 Avenue in Edmonton: Zone 08 Multi-Family Commercial for sale : MLS®# E4153437
Photo 1: 11140 108 Avenue in Edmonton: Zone 08 Multi-Family Commercial for sale : MLS®# E4153437
Photo 2: 11140 108 Avenue in Edmonton: Zone 08 Multi-Family Commercial for sale : MLS®# E4153437
Photo 3: 11140 108 Avenue in Edmonton: Zone 08 Multi-Family Commercial for sale : MLS®# E4153437
Photo 4: 11140 108 Avenue in Edmonton: Zone 08 Multi-Family Commercial for sale : MLS®# E4153437
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Photo 12: 11140 108 Avenue in Edmonton: Zone 08 Multi-Family Commercial for sale : MLS®# E4153437
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Photo 15: 11140 108 Avenue in Edmonton: Zone 08 Multi-Family Commercial for sale : MLS®# E4153437
Photo 16: 11140 108 Avenue in Edmonton: Zone 08 Multi-Family Commercial for sale : MLS®# E4153437
Status:
Active
Prop. Type:
Multi-Family Commercial
MLS® Num:
E4153437
Build. Type:
Low Rise (2-4 stories)
Cheviot Manor is strategically located on a quiet, tree lined street, surrounded by other apartment buildings & newer condo development. Near several schools, and existing transit with efficient access to the expanding LRT network to NAIT. The location & suite mix optimizes minimizing vacancy & increasing rental demand & rent rate growth that has been consistent since the current owner purchased the building in March of 2010. The 15 suite, 3 storey walk-up apartment building contains 3 bachelor, 10 one bedroom & 2 two bedroom suites. In above average condition for the 1972 built wood frame building, recent upgrades to the roof in approximately 2005, suites from 2011 to date, & hallway common areas & landscaping in 2015 continue to improve the building. With stabilized market rents NOI would be back to historic $96,303 = 5.1% cap rate on list price.
Sale Type:
Asset
Transaction Type:
For Sale
Property Type:
Multi-Family Commercial
Construction:
Wood Frame
Building Type:
Low Rise (2-4 stories), Multi Tenant/Multi Plex
# Bldgs:
1
# Units:
15
Tot Pkg Spaces:
15
# Storeys:
3.0
Year built:
1972 (Age: 47)
Total Floor Area:
13,000 sq. ft.
Lot Area:
14,885 sq. ft.
Land Use/Zoning:
RA7
Plan:
7541AH
Title to Land:
Fee Simple
LINC Number:
0015787526
Fire Protection:
CO Detectors, Fire Extinguishers
Reports Avail:
Financial Statements, Investment Analysis, Information Package, Internal Use Statements, Pro-Forma, Environ. Site Profile, Tenancy Schedule
Num. of Parcels:
1
Cap Rate %:
4.2
Gross Operating Income:
$156,000
Other Income:
$2,478
Effective Gross Income:
$150,554
Net Operating Income:
$79,277
Total Oper. Expenses:
$71,277
Tot Expenses:
$71,277
Entry date:
Apr 24, 2019
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Data was last updated May 23, 2019 at 08:30 PM (UTC)
JOHN CARTER
Copyright 2019 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.