6323 59 AVE new Save Request In-Person Tour Request Virtual Tour
Red Deer,AB T4N 5P9
Key Details
Property Type Multi-Family
Sub Type 4 plex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1806.0
Square Footage 1,806 sqft
Price per Sqft $359
Subdivision Highland Green Estates
MLS Listing ID A2272222
Year Built 1974
Lot Size 7,405 Sqft
Property Sub-Type 4 plex
Property Description
This well-maintained 4-plex in Highland Green presents an outstanding investment opportunity with a stabilized CAP rate of 7.3%, and an impressive annual gross revenue of $67,668, with tenants responsible for ALL utilities. Recent updates include a newer roof, updated windows on the lower levels, and one unit featuring newer windows throughout. Each unit offers a comfortable bi-level design with 2 bedrooms and 1 bathroom, complete with in-suite laundry. The upper level hosts the kitchen, dining, and living areas, while the lower level features the bedrooms, bathroom, and laundry, enhanced by large windows that welcome abundant natural light. With gross monthly rents of $5,639, this property provides excellent cash flow. Each unit also includes an electrified parking stall in the back and additional off-street parking. Located near essential amenities such as the GH Dawe Pool, schools, shopping, and public transit, this 4-plex combines functional design, strong cash flow, and a prime location, making it an ideal opportunity for investors.
Location
Province AB
Zoning R-M
Interior
Heating Central,Forced Air,Natural Gas
Cooling None
Inclusions Washer x 4, Dryer x 4, Fridge x 4, Stove x 4, Window Coverings
Exterior
Parking Features Alley Access,Off Street,Stall
Building
Dwelling Type Four Plex
Foundation Poured Concrete