9945 - 93rd Avenue Fort Saskatchewan Alberta
Exceptional Real Estate investment opportunity - 18 suiterThis 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.
Sold for: Subscription filled, Currently Active
Will purchased May 2023 for $2,250,000 with an 80% Bridge.
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.
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