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11140 108 Avenue
Zone 08 Edmonton T5H 3Z3

$1,999,999
Multi-Family Commercial

Main Photo: 11140 108 Avenue in Edmonton: Zone 08 Multi-Family Commercial for sale : MLS®# E4126013
Prop. Type:
Multi-Family Commercial
MLS® Num:
E4126013
Status:
Active
Build. Type:
Low Rise (2-4 stories)
Multi-Family Apartment Investors, 15 Suite Multi-Family Apartment Cheviot Manor - 11140-108 Avenue, Edmonton, AB. Cheviot Manor is strategically located on a quiet, tree lined street, surrounded by other apartment buildings and newer condo development in the ripple zone of the new Arena District. Near several schools, and existing transit with efficient access to the expanded LRT network to NAIT, and walkable to MacEwan. The location and suite mix optimizes minimizing vacancy and increasing rental demand and 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, 9 one bedroom and 2 two bedroom suites. In above average condition for the 1972 built wood frame building, recent upgrades to the roof in approx. 2005, suites from 2011 to date, and hallway common areas in 2015 continue to improve the building.
Sale Type:
Asset
Transaction Type:
For Sale
Property Type:
Multi-Family Commercial
Construction:
Brick/Masonry, Concrete, Wood Frame
Building Type:
Low Rise (2-4 stories), Multi Tenant/Multi Plex, Walk Up
# Units:
15
Tot Pkg Spaces:
15
# Storeys:
3.0
Year built:
1972 (Age: 46)
Total Floor Area:
12,708 sq. ft.
Lot Area:
14,885 sq. ft.
Land Use/Zoning:
ra7
Plan:
7541AH
Title to Land:
Fee Simple
LINC Number:
0015787526
Laundry-Coin-Op, Laundry-Common
Units Include:
Fridge, Hoodfan, Stove, Window Coverings
Fire Protection:
CO Detectors, Fire Extinguishers, Heat Detector
Num. of Parcels:
1
Cap Rate %:
4.1
Gross Operating Income:
$156,300
Other Income:
$2,478
Effective Gross Income:
$150,839
Net Operating Income:
$82,340
Total Oper. Expenses:
$68,499
Tot Expenses:
$68,499
Entry date:
Aug 21, 2018
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Larger map options:
Courtesy of John W Carter of RE/MAX River City
Listing information last updated on August 21, 2018 at 08:30 PM (UTC)
JOHN CARTER
Copyright 2018 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.