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Red Deer,AB T4P 1W3
Key Details
Property Type Multi-Family
Sub Type 4 plex
Listing Status Active
Purchase Type For Sale
Square Footage 2,413 sqft
Price per Sqft $273
Subdivision Oriole Park
MLS Listing ID A2194198
Style Bi-Level
Year Built 1979
Property Sub-Type 4 plex
Property Description
This fully rented, substantially renovated well-maintained fourplex in Oriole Park is the perfect addition to any investor's portfolio! Situated directly across from a green space and just minutes from parks, playgrounds, schools and shopping, these 3 bedroom, 1.5 bathroom units are the perfect place for families to call home. Recent upgrades include newer flooring, paint, a new roof and new windows in 2022 with the remainder of a 25 year warranty, 2 new furnaces, and rebuilt oversized balconies. Unit C has also been renovated to an open concept main floor and a new kitchen. All units are currently rented with excellent long-term tenants, and rents can be increased on all 4 units as of June 1, 2025. Market rents for these units will pull $1500+ per month with tenants paying own electricity and gas, giving this building a cap rate of over 8%. Tenants are currently paying $1,375, $1,350 (all utilities included) and $1,150 and $1,050, with tenants paying their own electricity and gas. Each unit is separately metered, so rents can easily be increased and utilities moved into tenant's names. Each unit has a designated parking stall at the rear of the property, and there is additional street parking available out front. This is an excellent investment to add to your portfolio with exceptional cash flow.
Location
State AB
County Red Deer
Zoning R-M
Rooms
Basement Finished,Full
Interior
Interior Features Ceiling Fan(s),Closet Organizers,Laminate Counters,Primary Downstairs,Separate Entrance,Storage
Heating Forced Air,Natural Gas
Flooring Carpet,Laminate,Linoleum,Vinyl
Inclusions Fridge x4, Stove x4, Range Hood x3, Microwave Range Hood x1, Dishwasher x1, Washer/Dryer x4
Appliance Dishwasher,Microwave Hood Fan,Range Hood,Refrigerator,Stove(s),Washer/Dryer
Laundry In Unit
Exterior
Parking Features Alley Access,Stall
Community Features Park,Playground,Schools Nearby,Shopping Nearby,Sidewalks,Street Lights
Roof Type Asphalt Shingle
Porch Deck
Total Parking Spaces 6
Building
Lot Description Back Lane
Dwelling Type Four Plex
Foundation Poured Concrete
Architectural Style Bi-Level
Level or Stories Bi-Level
Structure Type Concrete,Stucco,Wood Frame
Others
Restrictions None Known
Tax ID 91734620
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