Concrete Apartment Building - Rare for Edmonton!- REDUCED!

8940 - 149 Street - Crestview Manor - REDUCED! T5R 1B8 :

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$1,960,000
Prop. Type:
Single Family
MLS® Num:
E1007560
Status:
Sold
Year Built:
1964
REDUCED FOR QUICK SALE!
Crestview Manor is a 20 suite Concrete Apartment Building which is rare for Edmonton!. This well maintained project is located in the very desirable West End Family Area of West Jasper Place on an Extra large 23,050 sq.ft. corner lot. It has Great Curb Appeal. There are 15 one bedroom suites averaging 520 sq.ft. with excellent, functional floor plans.The rents are very low (more than $50/ste below market value) & could be raised for a greater return.  Crestview Manor is a 2 ½ storey, concrete construction with newer vinyl siding, balconies on above grade suites and a tar & gravel roof. It is a Very Energy Efficient Building. Not original hot water heating. The Out of Area Owner Self Manages with very competent, long term on-site Resident Manager. The project was built in 1964. The Coin Laundry Machines are Owned. There is a large storage shed at the rear of the building. The 20 energized stalls and included in the Tenant's power bill. There is a Mortgage of $450,000 with Peoples Trust at a rate of 5.03% until  Oct 1 2008 (PI: $2,985.11/mo). The Lender advises that they can increase the mortgage; that there is a possibility that the Mortgage can be paid out & refinanced as a larger new mortgage or fractured if the project is condo'd. The location of Crestview is excellent. It is on a Bus Route; Less than 10 minutes to U of A via  Whitemud Freeway; 10 min to Downtown; & 5 minutes to West Edmonton Mall. There is a Convenient Strip Mall less than 1 block away. Showing over 5% Cap Rate with potential for Rental Increases. Please Do Not Go Direct or Disturb Tenants. Easy to show, subject to Tenant's Rights. For a Proforma, additional information & an appointment to view this fine property, call Val Toffoli:  Phone:780-707-9395; Fax: 780-433-0272;
Email: vtoffoli@shaw.ca;  Website: www.valtoffoli.com   
Price:
$1,960,000
Property Type:
Single Family
Home Style:
2½ storey
Bathrooms:
0.0
Year Built:
1964
Floor Area:
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MLS® Num:
e1007560
Status:
Sold
Floor
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Exterior View From Across Street
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Exterior Side View 3
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Exterior Rear View 2 - Parking
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Exterior Rear View 1 - Parking
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Exterior Side View 2
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Exterior Side View 1
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Listing information last updated on April 27, 2012 at 03:50 PM (UTC)
VAL TOFFOLI
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.