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Rents are starting to rise in Edmonton. Cheviot Manor is strategically located on a quiet, tree lined street, surrounded by other apartment buildings & newer condo development. Near several schools, and existing transit with efficient access to the expanding LRT network to NAIT. Monthly gross rent roll is close to $13,000 per month and $160,000 annually. The location & suite mix optimizes minimizing vacancy & increasing rental demand & rent rate growth that has been consistent since the current owner purchased the building in March of 2010. The 15 suite, 3 storey walk-up apartment building contains 3 bachelor, 10 one bedroom & 2 two bedroom suites. In above average condition for the 1972 built wood frame building, recent upgrades to the roof in approximately 2005, suites from 2011 to date, & hallway common areas & landscaping in 2015 continue to improve the building.More details
RA7 Low Rise Apartment Zoned 55'x150' Lot Main Bus Terminal located 2 blocks away on 157 street, LRT Route is planned for 3 blocks on 156 Street, Outdoor Swimming Pool Fred Broadstock is 5 blocks 157st/105 Avenue, Shopping, Schools, Transportation, Medical Centers Close by. Opportunity to build Multifamily or apply for rezoning to DC2. This is a Redevelopment Area with Great Potential. Home is 784.69 sq ft above grade plus finished basement. Some newer windows, vinyl plan flooring, basic kitchen on main floor, 1 bedroom & bath up, 1 bedroom & bath down. Each level has its own laundry and fridge. Previously rented for $950 on main floor and $750 in the basement including utilities. 800 sq ft garage is currently not usable and would need repair. Home and Garage Sold As Is Where Is. Opportunity to Rent the home out while you wait to get approval for building plans.More details