Great Suite Mix - 6.12% Cap Rate - Many Upgrades

10617 - 106 Street -Curium Place Edmonton :

Main Photo: Great Suite Mix - 6.12% Cap Rate - Many Upgradesbanner
$2,180,000
Prop. Type:
Multi-Family (Commercial)
MLS® Num:
NEW
Status:
Sold

Curium Place is a 20 Ste Apt Bldg with a Multitude of Upgrades. Some of the Exterior Upgrades Include Professional Landscaping, a New Distinguished Pillared Canopy, New Exterior Lighting, New Code Compliant Balconies as well as some of the Windows have been replaced.

Curium Place is a 2 1/2 Storey Wood Frame Construction Apartment Building with a Concrete Foundation, an 8 Year Old Tar & Gravel Roof, New Balconies & an Intercom System.

The Exterior is newer Vinyl Siding with Brick Accents. Four of the Twenty Energized Parking Stalls (which the Tenants Pay Power On) are covered and secured with Chain Link Gates.

The Extensive Interior Upgrades Include but are Not Limited to most Units have New High End Quality Durable Laminate Flooring & Tile Flooring, Attractive Ceiling Fixtures & Ceiling Fans, Paint, Refurbished Cabinets, Counter Tops, Newer Fridges & Stoves, Some Mirrored Closet Doors, etc. Attention has been paid to Energy Conservation & Cost with New Low Flush Toilets, Energy Saving Shower Heads, Energy Efficient Common Area Lighting, and a Tek-mar System for the Boiler. The Addition of these Energy Saving Upgrades has Greatly Reduced the Utility Cost. The Suites are upgraded as Tenants vacate.

Curium Place has a Very Desirable Mix of Very Generous Size Suites as follows: 12 One Bdrm Units (575-735 sq.ft.); 2 One Bdrm+Den Units (700 sq.ft.) and 6 Two Bdrm Units (880 sq.ft.) which would make this project an excellent Candidate for a Future Condo Conversion.

The Coin Laundry Lease has recently been negotiated on a 75-25% split in Favour of the Owner. There is an Assumable 30 yr Ammo Mtg & Seller may Carry a 2nd VTB Mortgage if required. The Project Boasts an attractive 6.12% Cap Rate at the List Price of $109,000/ste.

Curium Place has a Great Curb Appeal. The Zoning is RA8.

Curium Place is located in Central Edmonton in the Neighbourhood of Central McDougall, just one block to the New LRT, Walking Distance to Grant MacEwan College, Downtown & all the ‘WOW’ Amenities of Trendy 104th Ave. Kingsway Garden Mall, the RA Hospital and NAIT are in Close Proximity. The New Proposed Arena is just a Couple of Blocks Away!

Vacancies are Low due to the Pro-active Attention of the Owner, the Excellent Professional Management, the Phenomenal Project Website, the Very Efficient Rental Call Centre and of Course... the Very Attractive, Upgraded and Generous Size Suites in Such a Super Central Location!

Curium Place is 1 of 4 projects in a Very Desirable Portfolio totaling 82 Stes, all Extensively Upgraded & All with an Excellent Suite Mix of Generous Size Suites. You won’t be disappointed!
Please follow the Slide Show Tour for Aa Multitude of View of this Desirable Property. A Detailed Proforma is Available Upon Request. Please Call Val for Additional Details. Please do NOT go direct and/or Disturb Tenants. Viewings are by Appointment Only to Qualified, Serious Buyers. Please allow 1 1/2-2 Business Days Notice for Viewings.
Price:
$2,180,000
Property Type:
Multi-Family (Commercial)
Year Built:
1971
MLS® Num:
New
Status:
Sold
Listing information last updated on August 6, 2012 at 02:17 PM (UTC)
VAL TOFFOLI
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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.