Original owner has decided its time to retire after 47 years! This building has been meticulously maintained and offers an attainable 7% CAP rate. Rents have been well below market for several years, but will be brought closer to market on July 1/25. 18 Suites, consisting of 17 two bedroom and 1 one bedroom unit have historically had a very low vacancy rate. Excellent location in a town of over 7000 people. Ponoka has a bustling economy with 3 hospitals, agriculture and energy as well as the Ponoka Stampede. The owner has recently installed two new boilers (hot water heat), flooring in the common areas, fibreglass shingles on roof. Acrylic Stucco, windows, dura deck and deck rails have all been updated in the past few years. All units have had updating over time. There are 18 electrified parking stalls in the paved parking lot on the east side of the building. Plugins for parking are controlled inside each apartment. There are several very long term tenants in the building.
Address
5415 54 Street
List Price
$1,950,000
Property Type
Commercial
Type of Dwelling
Multi Family
Area
Ponoka
Sub-Area
Central Ponoka
Lot Size
23087 Ac.
Year Built
1978
MLS® Number
A2202165
Listing Brokerage
Century 21 Advantage
Postal Code
T4J 1M9
Zoning
R4
Site Influences
Back Lane, Landscaped, Near Shopping Center, Paved, Street Lighting