10730 106 Avenue Northwest, Edmonton, AB, T5H 2Z8, CA

Vermillion Place

Asset Description

JLL Alberta Multifamily have been retained by the Vendor on an exclusive basis to arrange for the sale of Vermillion Place, located at 10730 – 106 Avenue NW in Edmonton, Alberta (the “Property”). Vermillion Place consists of a three-storey wood-frame construction building containing 27 rental suites.

The Property is being offered with an asking price of $3,145,000 ($116,500 per suite). The Opportunity can be acquired free and clear of any existing financing. Expressions of interest will be dealt with as received.

For more information, please contact JLL Alberta Multifamily.

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Attributes

Number of floors

Number of units

Year built

1981

Land area gross

1,208 m²

Occupancy

96%

Asking price

€2,100,000

Media

Investment Highlights

Value-Add Property: There is an opportunity to increase rental rates on lease turnover to market. A suite renovation program would also allow a prospective purchaser to further increase rents.

Immediate Access to Core Amenities and Arterial Roadways: The Property is located in Central McDougall, minutes away from MacEwan University, ICE District, Brewery District, and the abundance of amenities and workspaces in Downtown Edmonton.

Edmonton & Alberta Demand: Alberta’s population growth has exploded, with more than 202,000 people added to the province last year, translating into a 4.4% gain, higher than any other Canadian province.

High Occupancy Rate: As of July 2024, Vermillion Place is 96% occupied, with only one vacant suite available for rent. The Property has benefitted from a historically low vacancy rate.