Church Road

200 Church Road, Spruce Grove, Alberta


Exceptional Real Estate investment opportunity - 20 suiter

This exceptional opportunity is located at 200 Church Road Spruce Grove, Alberta. Spruce Grove is located 11km West of Edmonton, and with a population of 34,881 it is the ninth-largest population center in Alberta. Spruce Grove has had a population growth of over 25% in the last 4 years (27,875 to 34,881).  This 20 suiter is in good condition and has a premium suite mix and location. Similar performing projects are selling today in the $110,000/unit range and we are buying this asset for an amazing price of only $1,750,000 ($87,500/unit!).  The price is a factor of vacancy and mismanagement, as well as some upgrades required to bring the value up sharply.  We will spend about $150,000 on upgrades and perform a management overhaul for a one-year lift in value to $2,250,000 then plan to impeccably manage for four more years for maximum profit.

ROI: Please contact for more information
Sold for: Subscription filled - Currently Active

Will Purchase August 2018 $1,750,000 with a 75% loan @4.5% for 5 years

Cash required $750,000

What is exceptional about this deal?
  • Low purchase price of $87,500 per unit given good condition, and class “B” location.
  • Significant short-term upside potential - $500,000 in year one, and $300,000 + in years 2 to 5.
  • Alberta economy, especially Edmonton recovering rapidly moving into 2018.
  • Spruce Grove has solid population growth, and very low rental vacancy.
  • Excellent suite mix with 14 large, two-bedroom units!
  • New roof installed in 2008.
  • Comparable ‘performing’ projects selling at $110,000 + per unit in 2018.

Question about the project?

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