Excellent opportunity to acquire a well-maintained 24-unit apartment complex offering strong in-place income with upside potential. The property consists of 6 two-bedroom units, 14 one-bedroom units, and 4 bachelor suites — each individually metered for electricity. Recent capital improvements include a new roof (2020) and a new boiler heating system (2025). Many suites have updated flooring and appliances, and the property has been diligently cared for with consistent maintenance, paint and cleaning. The building features 24 surface parking stalls, each with electrical outlets. Conveniently located near the river, public transit, schools, and shopping, this property appeals to a broad tenant base. With solid current cash flow and market rent growth potential, this is a turnkey investment with additional opportunity for value-add repositioning.
Address
4746 55 Street
List Price
$3,500,000
Property Type
Commercial
Type of Dwelling
Multi Family
Transaction Type
Sale
Area
Red Deer
Sub-Area
Downtown Red Deer
Lot Size
20000 Sq. Ft.
Year Built
1975
MLS® Number
A2268015
Listing Brokerage
Real Broker
Postal Code
T4N 2J1
Zoning
R-H