Skip to content

Edmonton apartment complexes sold for 80K per unit

As vacancy rates in the city rise, two rental properties sell for a modest $1,760,000 per building
Admiral House
Admiral House is situated the Central McDougall neighbourhood of Edmonton.
Price: $3,520,000
No. of Units: 44 
Price/Unit: $80,000
Property Type: Multi-family
Date of Sale: 12/05/16
Zoning: RA8
City: Edmonton 
Province: Alberta 
Name of Brokerage: The National Apartment Group, CBRE Limited Edmonton
 
Two apartment complexes in Edmonton sold for $1,760,000 each, CBRE’s National Apartment Group tells Western Investor
 
Admiral House and Bruce Manor apartment buildings each feature 22 units and are experiencing higher than market vacancies. Edmonton’s current rental vacancy rate is 7.1 per cent as of October 2016. The per-unit price for this sale was a modest $80,000. Both properties have a net operating income of over $200,000 per year. 
 
Admiral House is located in the Central McDougall neighbourhood, at 10741 108 St. Bruce Manor is located in the Queen Mary Park neighbourhood, at 10625 113 St., Edmonton.
 
 
 
Do you have a Done Deal you'd like to promote? Submit here for a free posting!