5211 25 Avenue Northwest, Edmonton, AB, T6L 7G9, CA

The Madison

Asset Description

Jones Lang LaSalle Real Estate Services, Inc. (“JLL”) has been exclusively retained to offer for sale a 100% freehold interest in The Madison located at 5211/5303 - 25 Avenue NW in Edmonton, Alberta (the “Property”). The Madison presents the opportunity to acquire an exceptionally well-maintained, two building, wood-frame apartment complex containing 202 residential rental suites.

The Property is being offered with no list price and no formal bid date. The Vendor reserves the right to call for offers at a future date. The Property is available to the prospective purchasers free and clear of any financial encumbrances. No offer, regardless of form or content, will create any binding legal obligation upon the Vendor or the Advisor until fully executed by the Vendor and Purchaser.

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Attributes

Year built

2002

Number of buildings

Number of floors

Number of units

202

Parking spaces

312

Occupancy

99%

Media

Investment Highlights

Desirable Location with Immediate Access to Amenities & Light Rail Transit: The Madison is conveniently located in the Mill Woods Town Centre neighbourhood of Mill Woods in south Edmonton. The Property is within proximity to Mill Woods Town Centre, Mill Woods LRT Station, Mill Woods Public Library, Mill Woods Recreation Centre, and Grey Nuns Community Hospital.

Desirable Suite Mix & Floorplans: The Madison is comprised of two buildings, with a combined total of 202 residential rental suites. The suites contain an attractive mix of one-bedroom and two-bedrooms with thoughtful, open-concept floorplans and an average suite size of 789 square feet. All two-bedroom suites at The Madison include two bathrooms.

Convenient Suite and Building Features: All suites at The Madison provide impressive finishings including patios/balconies, six appliances including in-suite laundry, window coverings, and electric fireplaces. In addition, the Property also has secure underground parking with a car wash, surface parking, storage lockers, bicycle racks, keyless entry, video surveillance, and professionally landscaped outdoor space.

Strong Operating History with Stable Cash Flow & Value-Add Potential: The Property is consistently a high performing asset and maintains a low vacancy rate. There is currently a rental rate upside readily available at the Property without suite renovations or repositioning.

Institutionally Owned & Professionally Managed: Since 2017, the Property has had $4.1 million in capital expenditures.

Opportunity to Improve Building Efficiencies: A Purchaser could install individual water sub-meters to reduce utility consumption and improve operating expenses.