JIM ERICKSON

RE/MAX River City

Office 780-439-7000

Direct 780-914-1583

Email: sales@jimerickson.ca

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506 16 Street
Wainwright Wainwright T9W 1R7

$3,260,000
Multi-Family (Commercial)

John W Carter of RE/MAX River City
Main Photo: 506 16 Street: Wainwright Multi-Family (Commercial) for sale : MLS® # E4037026
Prop. Type:
Multi-Family (Commercial)
MLS® Num:
E4037026
Status:
Active
Build. Type:
Residential Mix
Fairview Apartments is a 36 unit, 4 storey building in an excellent location in the town of Wainwright, AB. Exceptional suite mix of 15 one bedroom, 15 two bedroom and 6 three bedroom units. All units have walkout patios or balconies, and are very large and well kept. The building is in excellent condition and current owner is the second owner, having bought from the original owner. Being sold individually or preferred as a package with Aspen Apartments as well (1101-14 St). NOI estimated at $261,300. Asking price is 8.0% cap rate with vendor open to VTB 2nd mortgage, negotiable with offers. Detailed package available with confidentiality agreement signed.
Transaction Type:
For Sale
Property Type:
Multi-Family (Commercial)
Construction:
Wood Frame
Building Type:
Residential Mix, Multi Tenant/Multi Plex, Walk Up
# Units:
36
Tot Pkg Spaces:
36
# Storeys:
4.0
Year built:
1976 (Age: 41)
Total Floor Area:
0.8 acre(s)
Lot Area:
0.87 acre(s)
Land Use/Zoning:
R3-Multi family
Plan:
7621529
Title to Land:
Fee Simple
LINC Number:
0014617146
Num. of Parcels:
1
Cap Rate %:
8.0
Gross Operating Income:
$371,280
Other Income:
$4,317
Effective Gross Income:
$347,427
Net Operating Income:
$261,376
Total Oper. Expenses:
$86,051
Tot Expenses:
$86,051
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Listing information last updated on 7-Jul-2017 5:23 PM