Edmonton Commercial Multifamily Properties

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Courtesy of Jeneen L Marchant of RE/MAX Real Estate

8269 29 Avenue
Zone 29 Edmonton T6K 3J9

$3,960,000
Multi-Family Commercial

Main Photo: 8269 29 Avenue in Edmonton: Zone 29 Multi-Family Commercial for sale : MLS®# E4403094
Photo 1: 8269 29 Avenue in Edmonton: Zone 29 Multi-Family Commercial for sale : MLS®# E4403094
Photo 2: 8269 29 Avenue in Edmonton: Zone 29 Multi-Family Commercial for sale : MLS®# E4403094
Photo 3: 8269 29 Avenue in Edmonton: Zone 29 Multi-Family Commercial for sale : MLS®# E4403094
Photo 4: 8269 29 Avenue in Edmonton: Zone 29 Multi-Family Commercial for sale : MLS®# E4403094
Photo 5: 8269 29 Avenue in Edmonton: Zone 29 Multi-Family Commercial for sale : MLS®# E4403094
Photo 6: 8269 29 Avenue in Edmonton: Zone 29 Multi-Family Commercial for sale : MLS®# E4403094
Photo 7: 8269 29 Avenue in Edmonton: Zone 29 Multi-Family Commercial for sale : MLS®# E4403094
Photo 8: 8269 29 Avenue in Edmonton: Zone 29 Multi-Family Commercial for sale : MLS®# E4403094
Photo 9: 8269 29 Avenue in Edmonton: Zone 29 Multi-Family Commercial for sale : MLS®# E4403094
Photo 10: 8269 29 Avenue in Edmonton: Zone 29 Multi-Family Commercial for sale : MLS®# E4403094
Photo 11: 8269 29 Avenue in Edmonton: Zone 29 Multi-Family Commercial for sale : MLS®# E4403094
Photo 12: 8269 29 Avenue in Edmonton: Zone 29 Multi-Family Commercial for sale : MLS®# E4403094
Photo 13: 8269 29 Avenue in Edmonton: Zone 29 Multi-Family Commercial for sale : MLS®# E4403094
Status:
Active
Prop. Type:
Multi-Family Commercial
MLS® Num:
E4403094
Build. Type:
Townhouse/Condo Complex
What a great investment opportunity at $165,000 per door! You can own 24 out of 72 units in a townhome complex, each individually titled. There's a mixture of 17 two-story 1044 sq.ft units, and seven 1033 sq.ft bungalow townhomes in this portfolio... all of which are 3 bedrooms! Rents are currently an average of $1,100 and being increased as leases are up for renewal, but you can easily increase to $1,300 on average to reflect market rents (this is shown in the stabilized proforma figures). The current cap rate is 3.46% and again can easily be increased to 5.41% by just going to market rents. The exterior has been completely updated. Also great as a BRRR because the photos reflect the average unit which could use renovations if you want to renovate and refinance, or rent as is. Move in ready and currently professionally managed. Low condo fees, close to schools, parks, transit, and amenities makes us a solid investment for any portfolio. No VTBs or creative financing please.
Property Type:
Multi-Family Commercial
Transaction Type:
For Sale
Lease Oper Costs Per Sq M:
$0
Price Per SqFt:
$158.51
Taxes:
Lot Area:
1.13 acre(s)
Stories Total:
2
# of 2 Bedroom Apartments:
0
# of Units:
73
# of Other Units:
49
# of Studio Apartments:
0
# of Bachelor Apartments:
0
Units Include:
Fridge, Stove, Washer / Dryer
Year built:
1977 (Age: 48)
Bathrooms:
- (Full:-/Half:-)
Building Type:
Townhouse/Condo Complex, Townhouse
Num. of Parcels:
1
Construction:
Wood Frame
Parking Space(s):
24
Tipaskan
Condo Property
Association Fee Frequency:
Association Fee Amount:
Seller Rights Reserved:
No
Zone:
Zone 29
Zoning:
Zone 29
Title to Land:
Fee Simple
Legal Lot:
0
LINC Number:
0010179026
Days On Website:
146 day(s)
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Data was last updated January 15, 2025 at 03:30 PM (UTC)
Copyright 2025 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.