447 Allowance Avenue SE

4 plex For Sale in River Flats, Medicine Hat

$508,000
  • 2,613 Sq. Ft.
  • Built 1941
Welcome to River Flats, Medicine Hat! This charming 4plex tucked away on a massive lot offers an exceptional opportunity for both investors and residents alike. With ample parking and storage, easy accessibility, and walking distance to the South Sasketwan River, several amenities, and less than an 8-minute drive to all major shopping and amenities, this investment offers a desirable opportunity for you and your tenants! Let's take a closer look at what this property has to offer: Unit 1 - $900.00 (new lease Feb): This cozy unit features 2 bedrooms and 1 bathroom. Recently renovated with new LVP flooring, fresh paint, and updated fixtures, it provides a comfortable living space for its tenants. Unit 2 - $925.00 (new lease June): Boasting 1 bedroom plus a den, this unit offers versatility. While it lacks a second egress window, it compensates with a stylish interior. Recent renovations include a complete overhaul with new floors, paint, kitchen, faux fireplace, bathroom updates, and new appliances, ensuring a modern and inviting atmosphere. Unit 3 - $950.00 (new lease Feb) plus $25.00 in summer for A/C: This 2-bedroom, 1-bathroom unit provides ample space and comfort. Tenants will appreciate the added convenience of an air conditioning unit during the warmer months, available for a nominal fee. Unit 4 - $900.00 (new lease Feb) plus $25.00 in summer for A/C: Similar to Unit 3, this 2-bedroom, 1-bathroom unit offers comfortable living with the option for air conditioning during summer months for a small additional fee. Garage Unit (rented by Unit 4 tenants currently) - $350.00: Complete with a single vehicle spot and workshop area, this spacious garage is a coveted amenity for residents, enhancing both convenience and usability! Along with the 5 Storage units on the exterior of the property there is no shortage of space for each tenant and landlord alike! Coin Laundry: Generate additional income with an on-site coin laundry facility, averaging roughly $100 per month. Utilities: Included in the rent, tenants enjoy the comfort of separate furnaces with individual heating controls for each unit, ensuring personalized comfort. Additionally, a 60-gallon hot water tank services the property. While electrical is not separated, recent utility averages indicate reasonable costs. Recent Renovations: With extensive updates including new windows, New LVP flooring, paint, kitchen upgrades, bathroom renovations, and new appliances across various units, the property boasts a refreshed and contemporary aesthetic, appealing to prospective tenants. Don't miss this opportunity to invest in a well-maintained and updated 4plex in River Flats.. Seeking a profitable investment has never been easier, this property offers the best of both worlds.
Address 447 Allowance Avenue SE
List Price $508,000
Property Type Multi-Family
Type of Dwelling 4 plex
Area Medicine Hat
Sub-Area River Flats
Floor Area 2,613 Sq. Ft.
Year Built 1941
MLS® Number A2112558
Listing Brokerage Westen Elite Real Estate
Basement Area See Remarks, Suite
Postal Code T1A3E1
Zoning R-LD

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Prestige Commercial Group

Remax Complete Realty

11450 29 St SE #201 Calgary Alberta T2Z 3V5

Office: 403-204-9323

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