Excellent opportunity to acquire a well-maintained 24-unit apartment complex offering strong in-place income with upside potential. The property consists of 6 two-bedroom units, 14 one-bedroom units, and 4 bachelor suites — each individually metered for electricity. Recent capital improvements include a new roof (2020) and a new boiler heating system (2025). Many suites have updated flooring and appliances, and the property has been diligently cared for with consistent maintenance, paint and cleaning. The building features 24 surface parking stalls, each with electrical outlets. Conveniently located near the river, public transit, schools, and shopping, this property appeals to a broad tenant base. With solid current cash flow and market rent growth potential, this is a turnkey investment with additional opportunity for value-add repositioning. (id:55577)
Property Features
- MLS® Number A2268015
- Price $3,500,000
- Square Footage: 14696 sqft
- Property Type: Multi-Family
- Community Name: Downtown Red Deer
- Plan K1
Buildings
| Constructed Date | 1975 | Size Exterior | 14696 Sqft |
| Size Interior | 14696 Sqft | Total Finished Area | 14696 Sqft |
| Type | Multi-family |
Land
| Acreage | No | Size Irregular | 20000.00 |
| Size Total | 20000 Sqft|10,890 - 21,799 Sqft (1/4 - 1/2 Ac) | Size Total Text | 20000 Sqft|10,890 - 21,799 Sqft (1/4 - 1/2 Ac) |
| Zoning Description | R-h |
Agents and Offices
- Tyler Remington
- Office: Real Broker