10131 159 Street Northwest, Edmonton, AB, T5P 3A1, CA

Juniper Estates

Asset description

Jones Lang LaSalle Real Estate Services, Inc. (“JLL”) has been exclusively retained to offer for sale a 100% freehold interest in Juniper Estates located at 10131-159 Street NW in Edmonton, Alberta (the “Property”). Juniper Estates presents the opportunity to acquire 43 residential rental suites in a mature West Edmonton neighbourhood.

The Property is being offered with a list price of $6,665,000 ($155,000 per suite). The Vendor reserves the right to set an offer date. The Property is available to prospective purchasers free and clear of any financial encumbrances. For more information, please contact JLL Capital Markets Multifamily.

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Attributes

Units

Occupancy

100%

Year built

1980

Building area net

34,760 sf

Zoning

Medium Scale Residential (RM h16)

Media

Investment highlights

Value-Add Opportunity There is an opportunity to increase rental rates through a property/suite renovation program, as a limited number of suites have been recently renovated.
Rental Upside Potential Rents within the Property are currently below market, and there is 21% of upside available upon renewals and turnovers without renovating suites. Upon a renovation program, rents could be significantly increased.
Desirable Location The Property is strategically situated in the mature neighbourhood of Britannia Youngstown in West Edmonton, offering residents convenient access to an abundance of amenities, public transit options, and major arterial roadways.
Attractive Suite Mix The Property has a desirable mix of one, two, and three-bedroom suites.
Large Suite Sizes Suites at Juniper Estates range from 671 to 1,129 sq. ft. with an average suite size of over 800 sq. ft. presenting a competitive leasing advantage.