5614 55 Street, Red Deer

$999,900

0 Beds
0 Baths
0 Garage Size

THIS 12 SUITE APARTMENT BUILDING, features 11 (2) Bedroom suites & 1 (1) Bedroom suite. FORECASTED INCOME W/ 10% VACANCY RATE WILL BRING IN OVER $100,000/YEAR IN GROSS INCOME! 3% Net Cap rate, based on asking price. Feb-2019 to Jan-2020 gross income at $86,172.00. 2 commercial coin-op washers & dryers. Expenses have been higher than average over the past several years, due to the many upgrades to suites. NEW CARPET, NEW LINOLEUM, FRESH PAINT IN MANY OF THE SUITES, NEW BATHS & more. Not to mention, Roof just resurfaced w/rubber membrane roofing in November of 2019 ($20,000) 6 units are currently Vacant due to renovation work, but are filling up slowly with new rent rates and longer terms. Strong potential to add to your rental portfolio, situated over 5 lots (125' wide) with 20+ stalls for parking. Each unit has one designated stall w/ power plug in. Visit REALTORS® website for more details.

Essential Information
MLS® #CA0185838
Price$999,900
Bathrooms0.00
Acres0.00
Year Built1963
TypeMulti-Family
StatusActive
Community Information
Address5614 55 Street
SubdivisionRiverside Meadows
CityRed Deer
CountyRed Deer
ProvinceAlberta
Postal CodeT4N 2J6
Amenities
Parking Spaces20
ParkingStall, Plug-In, Public Parking
Heating

Baseboard, Boiler, Make-up Air, Natural Gas

Exterior
Lot DescriptionStandard Shaped Lot
RoofRubber
ConstructionWood Frame
FoundationPoured Concrete
Additional Information
Days on Market146
ZoningR2
Listing Details
OfficeCentury 21 Advantage
LISTING MAP

Get directions to this property:

Properties for Sale Similar to 5614 55 Street, Red Deer, Alberta

Photo of Listing #CA0188215

5903 55 Avenue, Red Deer

$849,900

MLS® # CA0188215

RCR - Royal Carpet Realty Ltd.