3609 Chaben Place, Saskatoon Saskatchewan
Exceptional Real Estate investment opportunityChaben Place is located in the premium central east Saskatoon location of College Park. The 24 suite building is located directly accross the street from City Center Mall, 8th street, and is in very close proximity from the well known University of Saskatchewan. Saskatoon is one of the fastest growing cities in Canada with a strong and diversified economy. This building is in good condition and would be a class B building in a class A location.
Sold for: Currently Active
Purchased March 2016 for $2,710,000 with 75% loan at 3.4% for 5 years
Cash invested $840,000
8 investors to share in the profit share and equity
What is exceptional about this deal:
- Low purchase price of $2,710,000 given good condition and condition and class “A” location.
- Condominiums in near identical buildings listed for around $160,000.
- Excellent suite mix with 17 large, two bedroom units!
- Building is in good condition with most appliances replaced in the past few years.
- College Park is one of the most premium locations of Saskatoon, close to U of S.
- Saskatchewan economy still going strong, despite low oil prices.
- Very well maintained. $170,000 spent on upgrades in the past 18 months.
- Peaked roof installed in 2008 at a cost of $134,000.
- Cash flow from day 1 due to condition, with good rental upside medium and long term.
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