$ 3,780,000
3815 51A ST #101 - 308 Red Deer, AB T4P 1H4
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$ 3,780,000
Est. payment | /mo
6,179 SqFt
$ 3,780,000
Est. payment | /mo
6,179 SqFt
Key Details
Property Type Multi-Family
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 6,179 sqft
Price per Sqft $611
Subdivision Michener Hill
MLS® Listing ID A2172536
Originating Board Central Alberta
Year Built 1976
Annual Tax Amount $23,647
Tax Year 2024
Lot Size 0.690 Acres
Acres 0.69
Property Description
Well maintained 3-storey 24 suite apartment building located in a desirable and convenient location across from the Michener Recreational Center. All Tenants are on 1-year leases with various expiry dates except for 2 long-term Tenants and 1 vacant 2-bedroom suite to be fully renovated. There are five 2-bedroom suites, eighteen 1-bedroom suites and 1 bachelor suite. Each of the 1 and 2-bedroom units have a storage room, living room, entrance/hallway closet, 4-piece bathroom, kitchen and dinning area. All 2nd and 3rd floor units have a sliding door to a balcony. Over the past 7 years complete renovations including vinyl plank flooring, all new appliances including the addition of dishwashers, painting, new bathroom and kitchen cabinets and counter tops, room and closet doors, all moldings and casings, electrical fixtures and plumbing fixtures have been completed to two of the 2-bedrooms, fourteen of the 1-bedrooms and the bachelor suite. A 2-bedroom apartment will be vacated and full renovations started October 1, 2024. Partial renovations have been made to two of the 2-bedrooms and three of the 1-bedroom suites. There are two units left to renovate, which will provide a potential increase in rental revenue for the building. Additional renovations and updates to the common hallways and stairwells include new carpet/flooring, painting, reflective window film, LED lighting, new make-up air unit with air conditioning and a video security system with cameras at all entrances/exits, parking lot, the common hallways and stairwells. There is a common laundry room on the 1st/ground floor with 2 new token operated washers and gas dryers. Parking lot is paved and each suite has its own designated parking spot. There are 9 visitor parking spots as well as lots of available street parking. There is a live-in caretaker who looks after cleaning common hallways and stairwells, lawn cutting and snow removal and is remunerated with a rent reduction of $450.00.
Location
Province AB
County Red Deer
Zoning R3
Exterior
Garage Stall
Garage Description Stall
Total Parking Spaces 33
Building
Story 3
Others
Restrictions Non-Smoking Building,Pets Not Allowed
Tax ID 91574981
Ownership Other
Pets Description No
Listed by Century 21 Maximum
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