Property Type

Multi-family

Description

Welcome to a great investment opportunity in Okotoks, Alberta. Located on North Railway Street, this condo complex is within walking distance to wonderful local Okotoks businesses and is only a short drive to the city limits of Calgary. Now selling a block of 15 residential units (14 - 2 Bedroom units and 1 - 1 bedroom unit) this sale represents half of the total units in the complex 15/30 units. The condo complex has a convenient elevator, underground parking, and sits on a large corner lot. Condo fees are $349/month for the one bedroom unit and up to $552/month for many of the two bedroom units. Owners pay all electricity expenses for their respective units. Condo fees include heat, water, sewer, garbage and lawn maintenance. The current gross monthly revenue for all 15 units is $21,195 a month ($254,340 per annum) but rents are expected to increase to a total gross monthly of $23,795 a month come July 2023 ($285,540 per annum). Monthly expenses are $13,696 ($164,363 per annum). Each of the 15 units are separately titled and the owner would consider selling individually, 2, 4 or 6 unit blocks. (id:6769

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Listing data last updated date: 2023-04-03 01:36:41

Not intended to solicit properties currently listed for sale.The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA®) and identify real estate professionals who are members of CREA®. The trademarks MLS®, Multiple Listing Service and the associated logos are owned by CREA® and identify the quality of services provided by real estate professionals who are members of CREA®. REALTOR® contact information provided to facilitate inquiries from consumers interested in Real Estate services. Please do not contact the website owner with unsolicited commercial offers.

Listing Agent: Austin Cowley

Brokerage: TOWN RESIDENTIAL