2440 Louise Avenue, Saskatoon Saskatchewan
Exceptional Real Estate investment opportunityMarsin Apartments is located directly across the street from the bustling Market Mall in the prime Southeast neighborhood of Nutana. Saskatoon is one of the fastest growing cities in Canada with a strong and diversified economy, and a metropolitan area of over 300,000 people. The Saskatchewan economy is also well diversified with outstanding political leadership. This building is in good condition and would be a class B building in a class A location.
Sold for: $1,476,000 in November 2021
Purchased October 2016 $1,200,000 with a 75% loan @3% for 5 years
Cash invested $420,000
What is exceptional about this deal:
- Low purchase price of $105,000 per unit given good condition and class “A” location.
- Excellent suite mix with 11 large, two bedroom units!
- Building has been well maintained with $120,000 spent in the past 3 years.
- The upside potential for Saskatoon is tremendous, with large population growth expected.
- Nutana is one of the most premium locations in all of Saskatoon, close to Market Mall.
- Saskatchewan economy still going strong, despite low oil prices.
- New patio doors ($13,500) and new common area carpets ($7000) in 2014.
- Construction slated for a new high rise complex on the mall property.
- Cash flow from day 1 due to condition, with good rental upside medium and long term.
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