ONLY $88,164.71 PER UNIT! 7.12% CAP RATE!
THE ONLY APARTMENT BUILDING IN ONOWAY!
LESS THAN 1 HR TO EDMONTON!
This 17 Suite Apartment Building has Great Curb Appeal & an Excellent Ste Mix of 5 Lge 1 Bdrm & 12 Lge 2 Bdrm Units in Onoway, (< 70 Km NW of Edm). X-Lge Lot fronting on Lac Ste Anne Trail just a couple of minutes from the Downtown Commercial area. The Rear of the property is bordered by Mature Trees providing privacy and a park-like setting. Built in 1980. Paved Parking with 17 Energized Stalls (Tenants pay for Power); 6 Visitor Stalls plus additional area for parking. Lge Grassed area for Tenants’ enjoyment as well as a Bike rack & storage shed included. 2 ½ storey; Vinyl & California Exterior; Above Grade Units feature balconies (new decks 2009); 2 Sets of Coin Laundry Machines Owned; Torched flame sealed roof in 2002; New HW Tank in 2007; Boiler with newer Motor & Expansion Tank (2010); New Isolation Valves in all units (2010); FA Furnace for pressurized Halls not utilized and sold ‘as is’; New Fire System & smoke detectors in common areas (2011); Fridge Replacements in most units (2003-2011); 2 Sets Coin Laundry Owned & Included in Sale. On-going upgrading fully or partially as required as Tenants vacate. Very Low Vacancy – Only MF project in Town – No Competition. Rental Rates not raised for many years! Owner is open to ‘Reasonable’ Offers. Proforma available upon request. Do Not Go Direct to Disturb Tenants. Pls allow 1 ½-2 day notice.
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|Only $88,164.71/Suite:||17 Large units consisting of 5 One Bdrm & 12 Two Bedroom Units. 7.12% Cap Rate at List Price. Built in 1980. Ongoing Upgrades as Required.|
|Huge Lot!:||.62 Acre Lot (27,007.20 sq.ft) backing onto trees providing a park-like setting. Front: 45.658 m (149.796');Back: 53.644 m (175.997'); Long Side: 68.655 m (225.246'); Short Side: 40.464 m (132.755').|
|Torched on Roof:||Roof was replaced in 2000|
|Balconies/Siding:||Above Grade Units have Large Balconies. 2 1/2 Storey has Vinyl & California Stucco Siding.|
|Appliances:||Most Appliances have been replaced in the past 5 years.|
|Fire Code:||Project is up to Current Fire Code. Upgraded New System in 2011|
|Heating System:||Hot Water Heating - Newer Isolation Valves installed in all Suites in 2010. Energy efficient system. There is a Forced Air Furnace for Pressurized Halls however Owner has never used it - may not function and it is sold 'as is'. New Expansion Tank in 2010. New Hot Water Tank in 2011.|
|Power:||There are 17 Individual Meters for the Suites and 1 House Meter. Tenants pay their Own Power, Phone, Satellite & Internet.|
|Parking:||There are 17 Stalls with Power and 6 Visitor Stalls in the Huge Parking Lot|
|Laundry:||Two sets of Coin Operated Washers and Dryers are owned and included in the sale.|