3809-3813 50 Street — Red Deer, Alberta

Attention Investors: Are you a seasoned investor or new to the market! Either way your not going to want to miss out on this opportunity. 2 very well maintained 2 bedroom 4 plex's units on 1 lot one title. Exceptionally well cared for and lots of renovations over the years. From the roofs to the siding to the interiors including kitchens, cabinets, flooring, paint, bathrooms, some, furnaces hot water tanks ( vary from unit to unit) all show well with good tenants in place on fixed and monthly leases wanting to stay. Could easily produce a 7% or greater cap rate while still maintaining lower than FMR. Great property if you want to self manage yourself with no large common areas or the associated costs other than small amount of grass to cut and little snow to shovel. Good convenient SE side location on the bus route. Plenty of parking with 1 powered stalls for each unit at the rear.. Currently grossing $110,000 a year with costs of approx $31,088. Notice for rent increases has been given, all units to be $1300 per month ( 5 units as of May 01 2026 and remaining 3 as of Sept 01 2026.) 1 full year of rent increase to a total of $124,800. if you are just starting out or adding to your portfolio this one will be well worth considering, and a very easy property to self manage. (id:63357)