5614 55 Street Red Deer, AB
$ 949,900
Property Attributes
  • ML#A1067856
  • TypeSingle Family
  • CityRed Deer
  • NeighbourhoodRiverside Meadows
  • Postal CodeT4N 2J6
  • Style
  • Price$ 949,900
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size0.34 Acres
Listing Provided Courtesy Of:
Century 21 Advantage
Data Source:
Canadian Real Estate Association
Property Description

THIS FULLY TENANTED 12 SUITE APARTMENT BUILDING, features 11 (2) Bedroom suites & 1 (1) Bedroom suite. FORECASTED INCOME W/ 10% VACANCY RATE WILL BRING IN OVER $100,000/YEAR IN GROSS INCOME! 3% Net Cap rate, based on asking price. 2 commercial coin-op washers & dryers. Expenses have been higher than average over the past several years, due to the many upgrades to suites. NEW CARPET, NEW LINOLEUM, FRESH PAINT IN MANY OF THE SUITES, NEW BATHS & more. Not to mention, Roof just resurfaced w/rubber membrane roofing in November of 2019 ($20,000) Strong potential to add to your rental portfolio, situated over 5 lots (125' wide) with 20+ stalls for parking. Each unit has one designated stall w/ power plug in. Visit REALTORS website for more details. (id:7434)

General Features

Building Type Multi-Family
CommunityName Riverside Meadows
Foundation Type Poured Concrete
More Information Link
Property Type Other
Zoning Description R2

Interior Features

Basement Type Unknown
Building Fireplace Present False
Building Heating Fuel Natural gas
Building Heating Type Baseboard heaters
Construction Material Wood frame
Flooring Type Carpeted

Exterior Features

Parking Space Total 20
Sewer Municipal sewage system


  • Views
  • New Construction
  • Adult 55+
  • Lease To Own
  • No Strata Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Postal Code Average in T4N 2J6

AVG $430K
AVG 13
Year Built
AVG 1963