18 Ste MF Project - 6.7% Cap Rate

10622 - 111 Street - Anthony Place :

Main Photo: 18 Ste MF Project - 6.7% Cap Ratebanner
$1,890,000
Prop. Type:
Multi-Family (Commercial)
MLS® Num:
NEW
Status:
Sold

Anthony Place is located 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 its New California Stucco Exterior Finish and New Windows. Anthony Place is a 2 1/2 Storey Wood Frame Construction Apartment Building with a Concrete Foundation. The Tar & Gravel Roof is only 8 yrs old. 8 of the 18 energized parking stalls are covered. The Common Areas have been recently upgraded with Paint & Carpet. 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 17 of the 18 Suites has a Built In Dishwasher. 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.

Anthony PlaceBoasts a 6.70% cap rate. This pristine 18 ste Apt Bldg has a Great Suite Mix with 7 One Bdrm & 11 Two Bdrm Generous Size Units. Tenant turn over is low on this 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. Many of the Suites have been 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 Great Location, the Project's Web-Site, the Rental Call Centre & Professional Management, this Project Experiences an Exceptional Low Vacancy.

There is an Assumable Mtg with 35 yr Amo & the Seller may carry a VTB should it be required!

The 24 Suite Project next door is available as a package deal which would total 42 Suites. A Detailed Proforma is Available upon Request.

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:
$1,890,000
Property Type:
Multi-Family (Commercial)
Year Built:
1968
MLS® Num:
New
Status:
Sold
Listing information last updated on August 6, 2012 at 02:15 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.