Montrose Apartments_Property for Sale
Montrose Apartments_Property for Sale
11808 58 Street Northwest, Edmonton, AB, T5W 3W7, CA

Montrose Apartments

Asset Description

JLL Alberta Multifamily have been retained by the Vendor on an exclusive basis to arrange for the sale of Montrose Apartments, located 11808 – 58 Street NW in Edmonton, Alberta (the “Property”). Montrose Apartments consists of a 2.5-storey wood-frame construction building with six suites and balconies. The Property is comprised of four one-bedroom suites and two two-bedroom suites.


The Property is being offered with an Asking Price of $690,000 ($115,000/suite). The Opportunity can be acquired free and clear of any existing financing. Expressions of interest will be dealt with as received.

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Attributes

Number of floors
2 floors
Number of units
6
Year built
1970
Land area gross
722 m²
Zoning
RM h 16 - Medium Scale Residential
Asking price
A$751,000

Media

Investment Highlights

  • Value-Add Property: There is strong potential to grow the Net Operating Income through in-suite renovations and the mark-to-market of rents in a rising rental rate environment. 


  • Historically Low Vacancy & Turnover: The Property has a history of low vacancy rates, with many of the tenants having been at the Property for over ten years. 


  • Immediate Access to Core Amenities and Arterial Roadways: The Property is located in the Montrose neighbourhood and benefits from the amenities along 118 Avenue, including A&W, FreshCo, Medicine Shoppe Pharmacy, Shoppers Drug Mart, and Dairy Queen. Schools in the area range from elementary schools to post-secondary institutions, including Montrose School, Highlands Junior High, Eastglen High School and Concordia University. There are also several parks and playgrounds nearby, including Montrose Park, Highlands Park, John J. Olinyk Park, Gabby Haas Park, and Floden Park. 


Montrose Apartments 4_Property for Sale
Montrose Apartments 4_Property for Sale

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Montrose Apartments (0 Properties)

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Last updated
2 Jul 2024