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Red Deer,AB T4N 2J1
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 14,696 sqft
Price per Sqft $238
Subdivision Downtown Red Deer
MLS Listing ID A2268015
Year Built 1975
Lot Size 0.460 Acres
Acres 0.46
Property Sub-Type Multi Family
Property Description
Excellent opportunity to acquire a well-maintained 24-unit apartment complex offering strong in-place income with upside potential. The property consists of 6 two-bedroom units, 14 one-bedroom units, and 4 bachelor suites — each individually metered for electricity. Recent capital improvements include a new roof (2020) and a new boiler heating system (2025). Many suites have updated flooring and appliances, and the property has been diligently cared for with consistent maintenance, paint and cleaning. The building features 24 surface parking stalls, each with electrical outlets. Conveniently located near the river, public transit, schools, and shopping, this property appeals to a broad tenant base. With solid current cash flow and market rent growth potential, this is a turnkey investment with additional opportunity for value-add repositioning.
Location
Province AB
Zoning R-H
Interior
Inclusions 24 Stoves, 24 Fridges, 24 Hood Fans, 2 Washers (leased), 2 Dryers (leased), All available keys associated with the building and units.
Fireplace No
Exterior
Garage No
Building
Dwelling Type Low Rise (2-4 stories)
Others
Restrictions None Known