Description
INVESTORS! Unique residential + rental income! A 3 storey on one side + 4 legal suites on the other. An exceptional opportunity to own a newly built (2022) purpose-built rental property in the highly desirable community of West Hillhurst. Offering 5 residential units across 5,276 sq. ft. of above-grade living space, this turnkey asset combines strong in-place income with immediate value-add potential. Priced at $2,800,000, reduced from $3,188,000, the property features a luxurious 3 level attached home and FOUR legal income-generating suites. The proforma projects $119,375 in annual gross potential income with a modest 5.4% vacancy allowance, resulting in Year 1 effective rental income of $112,938 and a stabilized NOI of $74,890. Total operating expenses are estimated at just $38,048 annually, representing an efficient 33.7% expense ratio attributable to the property's recent 2022 construction, modern building systems, and energy-efficient design. An immediate value-add opportunity exists through the lease-up of the currently vacant Unit 201 (584 SF). Marketed at $1,750 per month, this suite has the potential to generate approximately $21,000 in additional annual gross revenue. Additional features include four legal suites with private entrances, in-suite laundry, dedicated storage, and secure underground parking, plus a rare six-stall heated underground parkade. Ideally located minutes from downtown, Kensington, the Bow River pathway system, Foothills and Children's Hospitals, parks, schools, and countless amenities, this is a premier inner-city investment added to your portfolio. (id:54406)
