9104 99th Street, Edmonton Alberta
Exceptional Real Estate investment opportunityThis exceptional opportunity was located at 9104-99th street in one of the most sought after neighborhoods in South Edmonton, Strathcona, which is close to Whyte Avenue and the University of Alberta. We purchased this project for less than $93,000 per door and it was located on prime land at the corner of 99th street and Saskatchewan Drive. The building was is in average condition in a class A location which made this project desirable and easily salable in the future.
Sold for: $1,331,000 July 2014
Purchased May 2010 for $1,018,000 with with 75% loan at 5.12% for 5 years
Cash invested – $375,000
What was exceptional about this deal:
- low purchase price of $92,545 / unit in premium A+ location
- land value among the highest and most sought after in Edmonton
- Majority of the suites in decent condition.
- Building was in decent condition, with minimal upgrades necessary
- Excellent central location, close to U of A, Whyte Avenue, and the river valley.
- Sold the project to another investor to move on to bigger projects.
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