4902 50th Avenue Beaumont Alberta
Exceptional Real Estate investment opportunityBeaumont Place is located in central Beaumont, a community of 16,000 located 3.2km south east of Edmonton, Alberta. This location is very active with development and is in close proximity to the Edmonton International Airport. The building has strong cash flow from day 1, with large upside potential in rents. This building is in exceptional condition and in a class A location of Beaumont, making this deal the flagship operation of Altyn Equities.
Sold for: Currently Active
Purchased December 2014 $2,900,000 with 75% loan at 3.55% for 3 years
Appraised for $3,050,000 (October 2014 appraisal)
Current Value (July 2016) $3,700,000
Cash invested $900,000
What is exceptional about this deal:
- Low purchase price of $2,900,000 given premium condition, and class “A” location.
- Commerical bays are rented too low. Major upside in contract renegotiation alone.
- Apartment rents are $175 too low, over $500,000 upside on residential portion only.
- 3 story building CONCRETE. Apartments are 2 bedroom 1.5 bath, townhouse style.
- New proposed 85 store outlet mall near the airport conditionally agreed upon.
- 3 year mortgage to get the rents to maket or above, then option to refinance or sell.
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