Glenridge Apartments

Exceptional Real Estate investment opportunity - 18 suiter

This exceptional opportunity is located at 9945 - 93rd Avenue, Fort Saskatchewan, Alberta. The building is a PREIMUM 18 suiter with an amazing suite mix of 17- Large, 2 bedroom units with one bachelor. This building is in the top 5% of projects I have ever seen and has an amazing upside potential - Target rents of $1295 by the end of 2024 for a value lift to $2,800,000.

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

Will purchased May 2023 for  $2,250,000 with an 80% Bridge.

Subscription Filled

Plan to Refinance with CMHC in Summer 2024 for $2,800,000

Approximately $800,000 is required. Planning to repatriate approx. $550,000 at refinance.

Substantial Value increase in a short time frame by upgrading and raising rents accordingly.

What is exceptional about this deal?

• Fantastic low vacancy rental market - Rents up 32% in one year.
• Family building in a quiet, residential neighborhood close to bus and amenities.
• Targeted rent of $1295 for a 2 bedroom which is extremely conservative, creating a planned value lift of around $550,000.
• The plan is to place a CMHC and repatriate equity in 2024. 10 year hold total.
• Excellent suite mix with 17 two BR, 1 bachelor suite.
• Massive opportunity to raise rents quickly by fixing and raising rents.

Question about the project?

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