(Location, location, location) A Fully leased out residential multi-unit family investor property for sale. Owner of 20 years is now retiring presenting this very rare opportunity to own a highly sought after income generating property. With demand rising due to more and more people and investment capitals moving into Alberta, this property is the perfect addition to any types of asset portfolio focusing on wealth generation as well as preservation.
This property is in a highly centralized prime corner lot location of the Tuxedo Park community. Boasting exposure and access to 3 sides of the property. A two-story building that has 6×900 Sqf bedroom suites (4x 2-bedrooms, 2x 3-bedrooms) with separate entrances unlike most multi-family building that has a large common area. Without a common area, the owner will enjoy reduced overall maintenance and expense as well as the benefits of attracting individual tenants desiring duplex or townhome like living space. What’s more, each unit has its own in-suite laundry, fridge and stove, up to 6 parking spaces and 4 electrical plug-ins that further increases its rental appeal. Convenient access to Calgary transit such as the Bus Rapid Transit (BRT) on centre street and potential future LRT station expansion line, this property is also zoned for C-COR2 f1.0h10 land which make this property one of the rarer offerings in the city. This zoning will further add value by allowing existing retail, office and business use as well as supporting a future redevelopment potential turning this into a high rise residential and commercial condo project down the road.
Very well maintained by the owner thru out the years reducing significant repair and maintenance cost. The owner also replaced all new hot water tanks, recently replaced basement windows and upgraded electrical service of 6-100 amp. Torch-on flat roof with zero issue and no water leak that can last up to 30 years. Buyer will inherit another benefit that while the current property is generating $106,680 gross income annually, this income is on old timer rent which will give new owner the potential to further increase rental income.
If you are looking for passive income and or a long-term holding investment, look no further.