Courtesy of Ryan J Lefebvre of Coldwell Banker Lifestyle

1001 13 Street
Cold Lake North Cold Lake T9M 1J2

$2,200,000
Multi-Family Commercial

Main Photo: 1001 13 Street: Cold Lake Multi-Family Commercial for sale : MLS®# E4392297
Photo 1: 1001 13 Street: Cold Lake Multi-Family Commercial for sale : MLS®# E4392297
Photo 2: 1001 13 Street: Cold Lake Multi-Family Commercial for sale : MLS®# E4392297
Photo 3: 1001 13 Street: Cold Lake Multi-Family Commercial for sale : MLS®# E4392297
Photo 4: 1001 13 Street: Cold Lake Multi-Family Commercial for sale : MLS®# E4392297
Photo 5: 1001 13 Street: Cold Lake Multi-Family Commercial for sale : MLS®# E4392297
Photo 6: 1001 13 Street: Cold Lake Multi-Family Commercial for sale : MLS®# E4392297
Photo 7: 1001 13 Street: Cold Lake Multi-Family Commercial for sale : MLS®# E4392297
Photo 8: 1001 13 Street: Cold Lake Multi-Family Commercial for sale : MLS®# E4392297
Photo 9: 1001 13 Street: Cold Lake Multi-Family Commercial for sale : MLS®# E4392297
Status:
Active
Prop. Type:
Multi-Family Commercial
MLS® Num:
E4392297
Build. Type:
Low Rise (2-4 stories)
Introducing Northview Apartments, a prime investment opportunity nestled in the heart of Cold Lake, Alberta. This well-maintained 23-unit apartment complex offers a diverse suite mix catering to various tenant needs, including bachelor, one, two, and three-bedroom units. Built in 1981 on a spacious lot spanning 32,100 SF, the property boasts a favourable zoning designation of R4, ensuring flexibility for future development or expansion. With an attractive list price of under $100,000 per door, Northview Apartments presents investors with the potential to achieve a robust CAP rate exceeding 7.5%. Cold Lake boasts a strong economy driven by thriving industries such as oil and gas and the presence of Canadian Forces Base Cold Lake further solidifies rental demand, offering investors a reliable stream of income. With its affordable property prices compared to larger urban centers, Northview Apartments presents an enticing investment opportunity.
Transaction Type:
For Sale
Property Type:
Multi-Family Commercial
Construction:
Wood Frame
Building Type:
Low Rise (2-4 stories), Walk Up
# Units:
23
Tot Pkg Spaces:
30
# Storeys:
2.0
Year built:
1981 (Age: 43)
Total Floor Area:
14,500 sq. ft.
Lot Area:
0 sq. ft.
Plan:
7823247
Title to Land:
Freehold
LINC Number:
0013390406
Num. of Parcels:
1
Cap Rate %:
4.15
Gross Operating Income:
$228,780
Other Income:
$2,300
Effective Gross Income:
$208,202
Net Operating Income:
$91,321
Total Oper. Expenses:
$116,881
Tot Expenses:
$0
Days On Website:
36 day(s)
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Data was last updated July 17, 2024 at 10:30 PM (UTC)
Copyright 2024 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
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