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by Diane Richardson

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1-22 4906 54 Street
NONE Forestburg T0B 1N0

$1,780,000
Multi-Family 9,632 sq. ft. built: 1978

Main Photo: 1-22 4906 54 Street: Forestburg Apartment for sale : MLS®# A2174449
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Status:
Active
Prop. Type:
Multi-Family
MLS® Num:
A2174449
Year Built:
1978
WELCOME to this excellent opportunity to invest in a 22-Suite Walk-Up Apartment Complex at The Haven on 54th in Forestburg! This property entails a two building apartment complex which was originally constructed in 1978 and extensively renovated in 2022/23. It originally functioned as a motel and it was fully renovated to accommodate the current use as an apartment complex. The buildings are of wood frame construction and features 12 studio suites, 2 bachelor suites, 7 one-bedroom suites and 1 three-bedroom suite. Site improvements include approximately 22 paved surface parking stalls and landscaping inclusive of lawn and mature trees. The north building is a 2-Storey walk-up apartment building featuring a total of 16 units. The building features 2 levels with each floor containing suites that have direct exterior access, the main level features a laundry room. The front portion of the building features Unit 1, which is the 3 bedroom unit, over a full basement that contains the mechanical/electrical room and storage space. The west building is a single storey building with a total of 6 units. Each of the suites has direct exterior access and a second laundry room. Finishes in the suites consists of a mix of vinyl plank and linoleum flooring and laminate kitchen/bathroom countertops. The majority of the units are supplied with 2 appliances including a stove and fridge. The 6 studio units located in the west building are provided with a small induction cooktop plate and a portable oven. Gas fired boiler providing heat to the suites in the north building. Individual electric heating/cooling units in the west building. Standard 100 amp service. The suites are not individually metered. The plumbing fixtures are standard, 5 hot water tanks for domestic use are in place. The complex features 3 sets of coin operating washers and dryers which generates revenues. Utility expenses are paid by the owner which includes power, heat, water, waste removal, internet and cable TV. CMHC mortgage in place for just over $200K cash down difference. Mortgage will require qualification, but the product is in place with a good rate of 5.25%. The property would be ideal for anyone wanting to live and manage on-site, as there is a 3 bedroom main floor suite with more living space (Unit 1). The name "Haven" says it all with a quiet small town, and a massively renovated building that is turn-key! 2024 has been the year to find renters and fill the building, and systems and managment are in place to realize the full potential of the building. The Village of Forestburg is situated in east central Alberta and has developed at the intersection of Highways 53 & 856. The community is situated approx. 195 Km's southeast of the City of Edmonton, approx. 153 Km's to Red Deer and lies 98 Km's south and east of the City of Camrose.
Property Type:
Multi-Family
Property Sub Type:
Apartment
Transaction Type:
For Sale
Possession:
Possession Date:
Home Style:
Apartment
Total Living Area:
9,632 sq. ft.
Lower Level Finished Area:
Above Grade Finished Area:
Taxes:
Tax Assessed Value:
HOA Fee Includes:
Acres Cleared:
Acres Cultivated:
Acres Irrigated:
Acres Leasehold:
Acres Not Cultivated:
Acres Freehold:
Acres Seeded:
Acres Tame Hay:
Acres Treed:
Acres Waste:
Acres Water Rights:
Reg. Size:
Reg. Size Includes:
Stories Total:
2
Levels:
Multi Level Unit
Year built:
1978 (Age: 46)
Bathrooms:
- (Full:-, Half:-)
Plan:
0622400
Foundation:
Poured Concrete
New Constr.:
No
Structure Type:
Low Rise (2-4 stories)
Ensuite:
No
Garage:
0
Parking:
Parking Lot, Paved, Plug-In
Parking Places:
22.0
Parking Total/Covered:
22 / -
NONE
N/A
Pet Restrictions or Board approval Required
Restrictions
Title to Land:
Fee Simple
Num. of Parcels:
0
Region:
Flagstaff County
Zoning:
R2
Listed Date:
Oct 21, 2024
Days on Mkt:
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Listed by Realty Experts Group Ltd
Data was last updated November 14, 2024 at 06:05 PM (UTC)

Contact Diane Richardson: 

Get in Touch with Your Questions or to Schedule Viewings via Phone, Email, Contact Form, or Live Chat

Contact Options:

  • Contact Form: Use the form on my website to send me a message directly. Please provide your name, email address, and message, and don't forget to include the property address or MLS® number for the listing you're interested in.

  • Phone Number: Call me directly at 403.397.3706 for any questions or to schedule viewings.

  • Email Address: Send me an email at Diane@Mypadcalgary.com for additional information or questions you may have.

  • Live Chat: Connect with me in real-time through the live chat feature on my website for immediate answers to your questions.
    This is a great way to get immediate answers to your questions. To ensure a prompt response, please include the property address or MLS® number for the listing you are interested in.

Diane Richardson
Cell: 403-397-3706