A great start or addition to your investment portfolio, 5 individually titled townhouse condominiums. Rare to find such an attractive unique complex that has a great location on the south side across from the park and trail system with a view from every unit. Complex sits on 11,600 Sq ft lot with fenced off street paved parking with 2 stalls for each unit. Well maintained, upgraded vinyl fencing, upgraded decks and aluminum railings. New shingled installed 2024. Each unit offers open kitchen and dining area and 2 Pc bath on the main, lower level has 2 bedrooms, storage room, 4 Pc bath room and mechanical room, approx. 977 Sq ft finished per unit. Has great potential to generate 70,,000 per yr gross income and produce an attractive cap rate, and even greater if you want to maintain yourself. Each unit has individual billing for gas and power. Water sewer and garbage are billed to the complex. Note these are presently mainly owner occupied, no rent roll.
Address
3500,3502,3504,3506,3508 48 Ave Avenue
List Price
$999,500
Property Type
Residential
Type of Dwelling
Row/Townhouse
Style of Home
Bi-Level
Area
Red Deer
Sub-Area
South Hill
Bedrooms
2
Bathrooms
2
Floor Area
2,114 Sq. Ft.
Year Built
1994
Maint. Fee
$340.00
MLS® Number
A2158142
Listing Brokerage
RE/MAX real estate central alberta
Basement Area
Finished, Full
Postal Code
T4N 3S3
Zoning
R2
Site Influences
Back Lane, Fruit Trees/Shrub(s), Landscaped, Walking/Bike Paths, Paved, Views