11835 103rd Street, Edmonton Alberta (15 suites)
Exceptional Real Estate investment opportunityThis exceptional opportunity is located at 11835-103rd street in Westwood area of North Central Edmonton. This location is also known as the NAIT district, where the Edmonton LRT train line is currently under construction. We purchased this building for $93,000 per unit, $55,000 below apraised value in October of 2012. This building had undergone $350,000 of upgrades in the past 10 years including a new roof in 2010, new windows and patio doors, new glass balconies, common area paint and carpet, and parking lot resurfaced in 2007. This building is in exceptional condition and in a class B location of Edmonton, making this deal excellent.
Sold for: $1,792,500 in May 2017
Purchased September 2012 for $1,395,000 with 75% loan at 3.46% for 5 years
Cash Invested $450,000
Sold May 2017 for $1,792,500
What is exceptional about this deal:
- Low purchase price of $93,000 / unit given premium condition, and class B location
- All suites above ground, no basement units therefore better tenants and higher rents!
- $350,000 in upgrades since 2002. New roof, windows, common areas, and many more
- Excellent central location, close to NAIT, Kingsway Mall, and city center airport
- VERY close to new Edmonton light rail transport (LRT) train station, opening 2014
- Rents and value increased substantially from time of possession. Rent roll from $11,775 to over $13,000 and target over $14,000 in 2014
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