12 Unit Townhouse Complex - Offered at a 9.92% Cap Rate!

67-69-71 Centennial Crescent - Swan Hills - Birchwood Apartments T0G 2C0 :

Main Photo: 12 Unit Townhouse Complex - Offered at a 9.92% Cap Rate!banner
$640,000
Prop. Type:
Business with Property
MLS® Num:
NEW
Status:
Sold
Birchwood Apartments is a 12 unit, 2 bedroom, 2 storey townhouse complex in downtown area of thriving Swan Hills. Over $125,000 has been spent on upgrades/renos since 2002. The project was built in 1971. It is wood frame construction; has a new asphalt shingle roof; an exterior of stucco and wood siding; and a chain link fence. All units have ground level patios and yards. There are New Hot Water Tanks & Boiler Pumps. All of the units and common areas have had renos including, but not limited to, new carpetand lino; paint; appliances, etc. Tenants pay own power including their energized parking stall. There is a Cable connection in all of the units. The two sets of Coin Laundry Machines owned and come with the project. 8 units are fully appointed and tastefully furnished (Corporate Tenants). The contents of these units will also be included with the sale. Birchwood Apartments are offered to you at a 9.92% cap rate based on Oct 2006 rents. The On-Site Managers fully manage the project for the long term, out of area Owner. This includes any upgrading or maintenance work. This is an Excellent Investment Opportunity at $53,333/unit. We have an additional project of 17 stes available as a package deal. Swan Hills has the highest elevation in Alberta east of the Rockies at 4000 ft above sea level. It is located in the District of Big Lakes. It overlooks hectare after hectare of forest with several lakes & an ecological reserve. Swan Hills is noted for its pristine beauty and natural recreational opportunities, making it a Wilderness Playground. Swan Hills was incorporated as a Town in 1967. It is situated on top of the 3rd largest oilfield in Canada and supplies 1/3 of Alberta's oil needs. In 1987, the Alberta Government built the Alberta Special Waste Treatment Facility, which underwent an $85 Million expansion in 1992 to the 320 acre plant which employees approximately 80 people. Swan Hills is a thriving community less than 2 hrs to Edmonton (209 km);1 hr to Whitecourt (80 km) & less than an hour to Slave Lake. The population is approximately 1807 people. Directions from Edmonton: - Hwy 16 West towards Jasper - Take Hwy 43 North ramp towards Whitecourt/Grand Prairie/ Peace River (go .9 km) - Take Hwy 43 West (23 km) - Turn Right at Hwy 33 (32 km) - Continue on Hwy 654 (go 6.5 km) - Bear left at Hyw33 (go 106 km) - Turn right & go .7 km Welcome to Swan Hills! For additional information, a proforma and/or an appointment to view the Birchwood Apartments Townhouses and the 17 unit Woodlands Apartments, Contact: Val Toffoli at 780-707-9395; email:vtoffoli@shaw.ca; website: www.valtoffoli.com) Do not go direct. All appointments to be confirmed.
Price:
$640,000
Property Type:
Business with Property
MLS® Num:
New
Status:
Sold
Listing information last updated on April 27, 2012 at 03:50 PM (UTC)
VAL TOFFOLI
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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.