5516 - 47A Avenue Red Deer, AB T4N 2J1

Chris Davies
Chris Davies

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  • $2,160,000
  • 5516 - 47A Avenue Red Deer, AB T4N 2J1

Property & Neighborhood Info

Spruce Vale Place – 18 Unit Apartment Building

Well maintained 18 unit apartment building in Red Deer. Large units, 94% two bedroom units, many with balconies. Effective management in place make this a strong investment for out of town investors. Another 18 unit building is also available nearby. Ideally positioned for substantial rental upside in a recovering Alberta economy. Pre-recession rents were well above $1,000/month. Recent improvements include the roof and domestic hot water tank. Superior location close to downtown, schools, shopping, walking trails and the Red Deer River. Existing financing in place which may be assumed. Seller financing may be available. Recent appraisal and due diligence materials available with a signed confidentiality agreement. Price: $2,160,000 ($120,000/door)

Main Features

  • Listing Status: Active
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