46
$1,300,000 Sale
Listed 15 hours ago
4509 53 Street
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Key Facts
Key facts for 4509 53 Street
Property Type
Apartment
Parking
22 parking
MLS #
A2354742
Size
-
Basement
-
Listed on
-
Lot size
-
Days on Market
-
Year Built
1976
Maintenance Fee
-
Description
This building was built in the late 70's by the man who owned it, and his family has looked after it ever since. You can tell. It's been run carefully and kept up the whole way through.There are 16 units: seven one-bedroom suites, eight two-bedroom suites, and a bachelor suite on the third level tha...t was set up for an on-site manager. The building is fully occupied, including the bachelor. It's rented now, but you could easily take it back if you want someone living on site. Here's the part that doesn't show up on a spreadsheet. Some of these tenants have lived here for decades. The family gave them reduced rent because they were worth keeping, and they still are. They look after their suites and they stay. In a building this size, that means fewer vacancies, fewer repaints, and a lot less of your time spent finding the next tenant. The other units rent at market rates, so the income can grow on your terms, not because you're scrambling to find good quality tenants. Athabasca's rental market has been tight for years. Good suites don't sit empty, and this building is on a quiet street, a short walk from shops and services. The big items are in good shape. The roof is newer. Several suites have been updated over the years with new kitchens, bathrooms and flooring. Heat and water are included in rent, which tenants like and which keeps things simple. There's a shared laundry room on site, plus paved parking with 16 tenant stalls and 6 visitor stalls.This is a building for someone who plans to hold it for the long term and look after it the way it's been looked after. The rent roll and financials are available to qualified buyers on the sellers discretion upon request.
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