This side x side duplex is in excellent condition. Upstairs are two units with legal basement suites that have their own exit. Each unit has 2 bedrooms, 1 bathroom, storage unit & their own laundry facilities. Upstairs is heated with furnace and down stairs has the underfloor heat. The suites are 984 sq.ft. with basements being 925 sq.ft. All have large master bedrooms that can accommodate a king bed. The rear parking stalls allows for one spot per tenant. Each unit has its own power and gas. Water & sewer is shared. Each unit has 5 appliances and window coverings. Great long term tenants. Current gross revenue is $49200, & expenses are $13,014 (this also includes taxes & insurance for building). Net operating income is $36,186. giving you a cap rate over 6.5%. NOV 1/21 THIS WILL INCREASE TO 7% with the rent increases. If you are looking for other investment there is a 2001 4 plex with separate titles at $575,000 (MLS E4198805). All buildings have been well maintained. Shingles were done 2 years ago.
Contact Heather Malin About MLS® E4198826
Heather Malin, 780-621-8001 at RE/MAX Vision Realty, 5115 - 50th St (Box 6484), Drayton Valley, Alberta, T7A 1R9
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