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$2,190,000
Est. payment /mo
4,945 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,945 sqft
Price per Sqft $442
Subdivision West Hillhurst
MLS Listing ID A2314809
Year Built 2022
Lot Size 4,356 Sqft
Acres 0.1
Property Sub-Type Multi Family
Property Description
INVESTORS! Unique FIVE-PLEX,excellent rental income! A 3 STOREY TOWNHOME on one side and FOUR LEGAL suites on the other. An exceptional opportunity to own a newly built (2022) purpose-built rental property in the highly desirable community of West Hillhurst. Offering 5 residential units across 4,945 sq. ft. of above-grade living space,this turnkey asset combines strong in-place income with immediate value-add potential. PRICED TO SELL,the property features a luxurious 3 level attached home and FOUR legal income-generating suites. The proforma projects $119,375 in annual gross potential income with a modest 5.4% vacancy allowance,resulting in Year 1 effective rental income of $112,938 and a stabilized NOI of $74,890. Total operating expenses are estimated at just $38,048 annually,representing an efficient 33.7% expense ratio attributable to the property's recent 2022 construction,modern building systems,and energy-efficient design. An immediate value-add opportunity exists through the lease-up of the currently vacant Unit 201 (584 SF). Marketed at $1,750 per month,this suite has the potential to generate approximately $21,000 in additional annual gross revenue. Additional features include four legal suites with private entrances,in-suite laundry,dedicated storage,and secure underground parking,plus a rare six-stall heated underground parking. Ideally located minutes from downtown,Kensington,the Bow River pathway system,Foothills and Children's Hospitals,parks,schools,and countless amenities,this is a premier inner-city investment added to your portfolio.
Location
Province AB
County Cal Zone Cc
Area Cal Zone Cc
Zoning M-C1
Direction NW
Interior
Inclusions The main building consists of the following: 1 A/C unit, 1 Gas stove/Electric, 1 Dishwasher, 1 x Fridge/freezer, W/D, Microwave, and all window coverings. The other 4 units consist of the following: 4 x dishwashers, 4 x electric stoves, 4 x microwaves, 4 x refrigerators, 4 x washers and dryers
Fireplace No
Exterior
Total Parking Spaces 6
Garage No
Building
Dwelling Type Five Plus
Others
Restrictions None Known
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