Beddington Heights Village_Property for Sale

195 Bedridge Place Northeast, Calgary, AB, T3K 1M6, CA

Beddington Heights Village

Asset description

Beddington Heights Village represents the opportunity to acquire 62 well-maintained rental townhouse suites in the vibrant community of Beddington Heights in northwest Calgary.

Beddington Heights Village (the “Property”, and/or “BHV”) is ideally positioned within a short drive to Calgary International Airport, University of Calgary, Alberta’s Children Hospital, and Nose Hill Park. The Property is within direct proximity to three retail developments, providing outstanding convenience and easy access for residents’ daily essential needs. In addition, the Property is close to an abundance of schools, green space, and arterial roadways.

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.

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Attributes

Year built

1979

Units

62 units

Land area gross

2.53 ha

Zoning

M-CG d50

Media

Investment highlights

Calgary Multifamily Market on Fire: Alberta’s favorable economic conditions have helped attract the largest number of interprovincial migrations of any other province in 2023.

Tenant Demand for Townhouses & Suburban Living: Townhouses are associated with a more suburban lifestyle, which can be appealing to tenants who prefer a quiet atmosphere, residential neighbourhoods, and a sense of community.

Desirable, Amenity-Rich Location: The Property is ideally located within walking distance to an abundance of amenities including grocery stores, pharmacies, medical clinics, restaurants, banks, and more. In addition, the Property within walking distance to a variety of bus routes and benefits from easy access to arterial roadways such as Deerfoot Trail and Centre Street.

Opportunity to Grow Income: There is a rental rate upside available on new leases.

Value Add Opportunity: There are several opportunities to add value to the Property in order to push rental rates even further, as approximately 50% of the suites have not been recently renovated.

Condominium Conversion - Exit Strategy: Given the increased demand for affordable housing and appetite for homeownership in Calgary, suites at BHV could be sold individually to homeowners or investors. There is limited entitlement risk.