This fully rented, substantially renovated well-maintained fourplex in Oriole Park is the perfect addition to any investor’s portfolio! Situated directly across from a green space and just minutes from parks, playgrounds, schools and shopping, these 3 bedroom, 1.5 bathroom units are the perfect place for families to call home. Recent upgrades include newer flooring, paint, a new roof and new windows in 2022 with the remainder of a 25 year warranty, 2 new furnaces, and rebuilt oversized balconies. Unit C has also been renovated to an open concept main floor and a new kitchen. All units are currently rented with excellent long-term tenants, and rents can be increased on all 4 units as of June 1, 2025. Market rents for these units will pull $1500+ per month with tenants paying own electricity and gas, giving this building a cap rate of over 8%. Tenants are currently paying $1,375, $1,350 (all utilities included) and $1,150 and $1,050, with tenants paying their own electricity and gas. Each unit is separately metered, so rents can easily be increased and utilities moved into tenant’s names. Each unit has a designated parking stall at the rear of the property, and there is additional street parking available out front. This is an excellent investment to add to your portfolio with exceptional cash flow.
Data was last updated February 28, 2025 at 02:05 PM (UTC)
Area Statistics
Listings on market:
11
Avg list price:
$950,000
Min list price:
$590,000
Max list price:
$3,780,000
Avg days on market:
57
Min days on market:
1
Max days on market:
177
Avg price per sq.ft.:
$299.47
These statistics are generated based on the current listing's property type
and located in
Red Deer. Average values are
derived using median calculations.
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
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