59 Ste, 5 Bldg, upgraded Apt Project on 1 Acre - 8% Cap Rate!

12722-12734 - 118 Ave - Anne Arbour Apartments :

Main Photo: 59 Ste, 5 Bldg, upgraded Apt Project on 1 Acre - 8% Cap Rate!banner
$3,150,000
Prop. Type:
Business with Property
MLS® Num:
2209180
Status:
Sold
8.38% CAP RATE AT LIST PRICE! This extensively renovated, 59 suite, five building project features very generous size, bright suites. It has an excellent suites mix (2 Bach; 36 - 1 Bdrm; 18 - 2 Bdrm; 3 - 3 Bdrm) with excellent functional floor plans. Four of the buildings features beautiful character suites with hardwood floors, coved ceilings, large windows & lath & plaster walls! Beautiful, Spacious, Bright Character Suites. Over $800,000 spent in the last six years to refurbish project including the suites, common areas and the exterior. (Interior: refurbishing hardwood floors; new ceramic tile, lino & carpet; paint throughout in decorator tones; new counter tops, refinished cabinets, lighting fixtues; low flush toilets, many sinks, some appliances). Exterior: one new roof, new pumps, hot water tank, new siding, some new windows; all windows capped; landscaping, etc. Excellent Mgmt - Great Tenants - Showing at 8.38% cap rate even with some rents still low!Appraisal available. Treat As Clear title & put in place your required level of financing.
Price:
$3,150,000
Property Type:
Business with Property
MLS® Num:
2209180
Status:
Sold
Listing information last updated on March 14, 2017 at 12:44 PM (UTC)
VAL TOFFOLI
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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.