7916 99 ST #101-405 Peace River, AB T8S1C1

This is a 24 unit apartment building with an electrified parking stall for each unit. There are 4 three bedroom units, 12 two bedroom units and 8 one bedroom units. Rents range from $1350 for a furnished unit to $750 for the smallest one bedroom - the average rental rate is $990 per unit. Renovations have been ongoing since these owners purchased the building with most units now renovated - there are two renovated units vacant currently and 4 units in the process of been renovated with the expectation renovations will be completed in the next few months. The landlord is very particular and will lease the units once a suitable tenant is found. Boiler was replaced in 2011 +/- , Commercial hot water tank replaced in 2013 +/-, Shingles replaced in 2018 +/- and the deck railings on the west side replaced with black aluminum and the east side to be completed this spring/summer. Once completely occupied this building will create revenue of approx $285,000 at current rents. Expenses approx $90,000 year over year to May 31 2022 with the building not completely occupied. Well maintained with regular renovations and updates done. - very good opportunity for the discerning investor