Solid Concrete Bldg showing 8.33% Cap Rate with Low Rents!

12239 82 Street - Evergreen Place :

Main Photo: Solid Concrete Bldg showing 8.33% Cap Rate with Low Rents!banner
$722,500
Prop. Type:
Business with Property
MLS® Num:
2329844
Status:
Sold
Concrete Bldg - Rare for Edmonton. Listed at $42,500 per ste! Located just blocks from new Retail & Condo Development! Excellent investment showing 8.33% Cap Rate even with low rents in place! Major upside! If increased to market value, cap would be 9.34% at List Price. Well maintained with many long term, quiet tenants (29 yrs, 8 yrs, 6 yrs, etc). Out of town Owner self manages (mgmt fee goes to the Owner).Excellent on-site Resident Manager. 2 ½ storey concrete bldg with tar/gravel roof on 10,752 sq.ft. lot, built in 1969. Features Intercom & Balconies. Stes are individually metered for power including the energized parking stalls. Newly renovated common areas as well as some of the stes. Some suites have parquet floor, others new laminate flooring and balance carpet. Ongoing upgrading as required when Tenants vacate. Up to current fire code. Chattels: 17 stoves & fridges & 2 sets of coin laundry machines. Very Solid Project which is extremely well priced! For proforma or viewing, call Val Toffoli @ 780-707-9395; vtoffoli@shaw.ca;
Price:
$722,500
Property Type:
Business with Property
MLS® Num:
2329844
Status:
Sold
Listing information last updated on April 27, 2012 at 03:49 PM (UTC)
VAL TOFFOLI
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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.