Property Details

7916 99 Street - Peace River

Property ID: A2021026

$1,800,000
20280 square feet
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This is a 24 unit apartment building with an electrified parking stall for each unit. There are 4 three bedroom units, 12 two bedroom units and 8 one bedroom units. Rents range from $1350 for a furnished unit to $750 for the smallest one bedroom - the average rental rate is $990 per unit. Renovations have been ongoing since these owners purchased the building with most units now renovated - there are two renovated units vacant currently and 4 units in the process of been renovated with the expectation renovations will be completed in the next few months. The landlord is very particular and will lease the units once a suitable tenant is found. Boiler was replaced in 2011 +/- , Commercial hot water tank replaced in 2013 +/-, Shingles replaced in 2018 +/- and the deck railings on the west side replaced with black aluminum and the east side to be completed this spring/summer. Completely occupied this building will create revenue of approx $285,000 at current rents. Expenses approx $90,000 year over year to May 31 2022 with the building not completely occupied. Well maintained with regular renovations and updates done. - very good opportunity for the discerning investor (id:12516)

  • AC:None
  • Bathrooms:
  • Bedrooms:
  • Flooring:
  • Heating:,Natural gas,
  • Lot Size:0
  • Property Type:Multi-family
  • Size:20280 square feet
  • Waterfront:No
  • Yard:
  • Year Built:1976
  • Listing Office:Century 21 Town and Country Realty