24 Ste Apt Bldg -

10610 - 111 Street - Prestige Manor Edmonton : Queen Mary Park

Main Photo: 24 Ste Apt Bldg -banner
$2,760,000
Prop. Type:
Multi-Family (Commercial)
MLS® Num:
EXCLUSIVE
Status:
Sold

Prestige Manor is located on a Corner Lot in desirable Queen Mary Park on a Quiet Tree Lined Street just two blocks away from Oliver & the Trendy 104th Ave 'Wow' Amenities. It is Walking Distance to Grant MacEwan, the New LRT, & Downtown with Close Proximity to the New Proposed Arena, Victoria School, the RA Hospital, Kingsway Garden Mall & NAIT.

It has Excellent Curb Appeal with a Brick and Stucco Exterior & New Balcony Railings. All 18 Above Grade Suites have a Generous Size Balcony with Large Patio Doors. Prestige Manor is a 3 1/2 Storey Wood Frame Construction Apartment Building with a Concrete Foundation. The Tar & Gravel Roof is only 6 yrs old. The Tenants Pay for the Power for the 24 Energized Parking Stalls.

The Owner has just negotiated a deal with the Laundry Leasing Company for a 75-25% split in favour of the Owner.

Each Generous Size Unit comes with a Fridge, and Electric Stove and a Kitchen Hood Fan. The Project Features an Intercom System. Cable TV & Internet are Available at the Tenant's Expense. The Project is Individually Metered for Electricity which the Tenant Pays for.

Prestige Manor Boasts a 6.70% cap rate. This pristine 24 Unit Apartment Building has Exceptionally Large Size Suites with a Great Suite Mix of 12 One Bdrm (700 sq.ft. ave size); 7 Two Bdrm (850 sq.ft. ave size); 2 Two Bdrm+Den (900 sq.ft.) & 3 Three Bdrm (950 sq.ft.). There is a Total of 19,000 sq.ft. of Rentable Area! Tenant turn over is low on this Very Desirable Project.

The Owner has installed many Energy Saving Features to reduce Utility Costs including New Low Flush Toilets-Shower Heads, an Energy Efficient Tek-mar System for the Boiler, and Energy Efficient Lighting. The Suites have been extensively upgraded on Tenant Turnover. The property is Fire Code Compliant as of 2011.

The Property is Professionally Managed; the Owner has a Phenomenal Web Site as Well as a Call Centre for Potential Tenant Inquiries.

Between the Desirable, Upgraded, Clean & Well Maintained Condition of this Project, the Exceptional Size of the Units, the Great Location, the Project's Web-Site, the Rental Call Centre & Professional Management, this Project Experiences an Exceptional Low Vacancy Rate.

There is an Assumable Mtg with a 3.41% Interest Rate until January 2014 & the Seller may carry a VTB should it be required!

Prestige Manor is a Conditional Listing Which Will be Sold ONLY with the 18 Suite Project next door (Anthony Place) as a package deal which would total 42 Suites. A Detailed Proforma of Both Projects are Available upon Request. For Additional Information Please View the Details & Multitude of Photos ofAnthony Placeon this Website.

Please do NOT approach the Property Directly and/or Disturb Any Tenants. Requests for Viewings to Serious, Qualified Buyers by Appointment Only Allowing 1 1/2 to 2 Business Days Notice for Showings.

Price:
$2,760,000
Property Type:
Multi-Family (Commercial)
Year Built:
1972
MLS® Num:
Exclusive
Status:
Sold
Listing information last updated on August 6, 2012 at 03:27 PM (UTC)
VAL TOFFOLI
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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.