PRICE REDUCED

VENDOR FINANCING AVAILABLE ASSUMABLE CMHC MORTGAGE

MULTI-FAMILY

INVESTMENT

SALE

STARVILLEAPARTMENTS

5502 61 STREETVEGREVILLE, AB

18 TOWNHOMES

Cushman & Wakefield Edmonton is independently owned and operated / A Member of the Cushman & Wakefield Alliance. No warranty or representation express or implied is mad to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property for properties in question. February 24, 2021

Cushman & Wakefield EdmontonSuite 2700, TD Tower10088 102 AvenueEdmonton, AB T5J 2Z1 cwedm.com

Adrian AmbrozukAssociate Partner 780 733 6406 adrian.ambrozuk@cwedm.com

Brandon KuhnAssociate 780 916 9671 brandon.kuhn@cwedm.com

PROPERTY & LOCATIONOVERVIEW

Cushman & Wakefield Edmonton is pleased to present this exciting opportunity to acquire the premium townhouse style multi-family rentals located in the town of Vegreville located 50 minutes east of Edmonton.

The offering is known as Starville Townhomes consists of 18 units situated amongst 3 separate 6 unit buildings constructed in 1975 with recent renovations to the interior(s) and exterior completed throughout.

Located in the Mount Lawn district of the Town of Vegreville, the area is considered

to be a good rental residential district due to its close proximity to schools and

shopping facilities.

INVESTMENT HIGHLIGHTS

• Fantastic opportunity for an owner looking to take control of their

investment with some hands on rental management in this attractive complex.

• Vegreville is the fourth fastest growing municipality in the province of Alberta

• Recent extensive condominium up-grades and renovations to the property

include newer vinyl windows in each unit, new ashphalt shingles and flashing completed in 2016 along with recently painted exterior stucco, and ongoing

renovations to interiors in the majority of the units as Tenants roll over.

• Each suite is equipped with: ◦ 4 piece bathroom on the second floor

and two piece on the main floor. ◦ 4 appliances inclusive of a fridge, stove,

and a washer/ dryer combo. ◦ Individual unit hot water tank and

natural gas furnace. ◦ Separate metering for power, gas, and

water. ◦ Fully landscaped with large fenced

back yard area ◦ Front paved parking

• Units are all individually titled and can be sold separately.

• Existing CMHC mortgage is in place and assumable on approved credit at 2.27%

until December 2021.

FINANCIALSUMMARY

Unit Type Monthly Rent Gross Annual Income

18 3 Bedroom Townhome 950.00$ 11,400.00$

GROSS RENTAL INCOME 17,100.00$ 205,200.00$ Vacancy Loss 5.00% (855.00)$ (10,260.00)$

EFFECTIVE GROSS INCOME 194,940.00$

Type % of EGI Per Unit/Per Year Per Annum

Property Taxes 2020 4.3% 466.72$ 8,401.00$

Utilities Separately Metered 2020 2.0% 219.08$ 3,943.42$

Repairs and Maintainance 2020 10.3% 1,111.11$ 20,000.00$

Management 2020 4.9% 527.78$ 9,500.00$

Advertising/Admin 2020 0.2% 25.44$ 458.00$

Insurance 2020 3.7% 400.33$ 7,206.00$

TOTAL EXPENSES 25.4% (2,750.47)$ (49,508.42)$

NET OPERATING INCOME 145,431.58$

PRICE 1,795,000.00$

99,722.22$ Capitalization Rate GRM Price Per Suite

8.10% 8.75 Disclaimer: The information contained herein has been obtained from various sources considered reliable. Neither Cushman & Wakefield Edmonton, its Broker(s), Associate Broker(s)

or Agent(s) make any representation, declarations or warranties, expressed or implied, as to the accuracy or completeness of this information and/or any statements. Cushman & Wakefield Edmonton and its its Broker(s), Associate Broker(s) or Agent(s) expressly disclaim any and all liability for any errors or omissions herein and/or any other written or oral

communication transmitted or made available to prospective purchasers. All prospective purchasers are advised to independently verify the accuracy of any information and/or statements herein through engaging multiple appropriate professionals

STARVILLE APARTMENTS - PROFORMAREVENUE

EXPENSES

PROPERTYDETAILS

municipal address5502 – 5524 61 Street Vegreville, AB

6102 – 6112 55 Avenue Vegreville, AB

legal descriptionCondominium Plan 7521518

Units 1 - 18

suite mix18 - 3 Bedroom,

two storey suites1,010 SF each + basement

land size1.15 Acres

zoningR4 (High Density

Residential)

reduced price$1,795,000.00

price per door$99,722.00

cap rate8.10%

ASSUMABLE CMHC MORTGAGE

VENDOR FINANCING AVAILABLE

Cushman & Wakefield Edmonton is independently owned and operated / A Member of the Cushman & Wakefield Alliance. No warranty or representation express or implied is mad to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property for properties in question. February 24, 2021

Adrian AmbrozukAssociate Partner

780 733 6406 adrian.ambrozuk@cwedm.com

Brandon KuhnAssociate 780 916 9671 brandon.kuhn@cwedm.com