Property Details

Address: 333 - 43 Avenue West, 4703 - 2 Street West & 415 - 43 Avenue West, Claresholm, AB
Status: For Sale
Price: $7,300,000
Price Per Door: $100,000
No. of Units: 73
Cap Rate: 5.64%

Claresholm Multi Family Portfolio 

Potential Portfolio List Price: $7,300,000
Potential Portfolio Price Per Door: $100,000
Potential Portfolio CAP Rate: 5.64%
Total Number of Suites: 73
Total Suite Mix: 1 Bachelor Suite, 20 One-Bedroom suites & 52 Two-Bedroom suites


Individual Building Breakdown


The Westlyn 

333 - 43 Avenue West, Claresholm

Potential List Price: $3,900,000
Potential Price Per Door: $100,000
Projected CAP Rate: 5.61%

The Westlyn is a 39 suite, 2 building apartment complex located at 333 - 43
Avenue West, in the town of Claresholm, Alberta. It is a 2 storey, walk-up, woodframe
construction complex with balconies. Covered parking available.
The suite mix in building #1 is 1 One-Bedroom suite, and 23 Two-Bedroom suites.
The suite mix in building #2 is 8 One-Bedroom suites, ans 7 Two-Bedroom Suites.
The Westlyn buildings are set on a large, landscaped lot that borders the Claresholm
Golf Club. The properties landscaping has been professionally maintained, with
inground irrigation. The metal roof on both buildings was replaced in 2013.
All suites have received professional upgrading.
All suites in this property have been individually condo titled.

 

The Carlington
4703 - 2 Street West, Claresholm

Potential List Price: $1,100,000
Potential Price Per Door: $100,000
Projected CAP Rate: 5.98%

The Carlington is an 11 suite apartment building located at 4703 - 2 Street
West, in the town of Claresholm, Alberta. It is a 3.5 storey, walk-up, wood-frame
construction building. Parking is underground.
The suite mix is 1 Bachelor suite, 6 Two-Bedroom, One Bathroom suites, and 4
Two-Bedroom, Two Bathroom suites.
Each suite features open plan kitchens, electric fireplaces, in-suite laundry and
spacious balconies.
The Carlington building also boasts professionally maintained landscaping with
inground irrigation, membrane roofing, and maintenance free stucco exterior.
All suites have received professional upgrading.
All suites in this property have been individually condo titled.

 

The Kensington
415 - 43 Avenue West, Claresholm

Potential List Price: $2,300,000
Potential Price Per Door: $100,000
Projected CAP Rate: 5.33%

The Kensington is a 23 suite apartment building located at 415 - 43 Avenue
West, in the town of Claresholm, Alberta. It is a 3 storey, walk-up, wood-frame
construction building with balconies. Parking is surface and paved.
The suite mix is 11 One-Bedroom suites, and 12 Two-Bedroom suites.
The Kensington is set on a large, landscaped lot that boasts exceptional views of
the Livingstone Mountain Range.
The property includes updated high efficiency boiler, inground irrigation, a large
custom designed common room, and maintenance free stucco exterior.
All suites have received professional upgrading.
All suites in this property have been individually condo titled.

Location 

Claresholm is a town located is southern Alberta, approximately 80 kilometers (50 minutes) North West of Lethbridge, and
approximately 130 kilometers (1 hour and 15 minutes) South of Calgary.

Highway 2 is a major roadway that runs directly through Claresholm. Highway 2 is the transportation corridor that connects
Edmonton, Red Deer, and Calgary, making it the direct route from Central to Southern Alberta.

According to the 2016 municipal census, the population of Claresholm is approximately 3,424 residents.

The Claresholm economy is driven by business and community service, retail, manufacturing, public administration, transportation, and utilities. Ease of access to urban centres has contributed to local growth in the food processing and transportation industries. An expanding industrial park anchored by several large and established companies supports a strong economy whose market area reaches Calgary, only an hour and fifteen minutes to the north. A diversity of financial, health, and personal services and a robust retail sector support the local and regional farming and ranching communities.

Claresholm has access to an educated workforce supported by the University of Calgary, as well as eleven additional colleges and technical institutes in the Calgary area, the University of Lethbridge, and the Lethbridge College.

Claresholm’s community centre features a Main Hall, which includes a commercial kitchen, Bar and Stage area, a Lodge Room, which includes a kitchen, coat room and piano, and a Meeting Room, which can accommodate up to 70 people.

The Livingstone Range School Division operates 2 schools in the community, one Elementary school, and one High school.

History buffs will appreciate Claresholm’s connection to flight training. From 1941-45, the town was home to the Number 15 Service Flying Training School, where thousands of pilots who served the Commonwealth earned their wings. The Harvard Memorial commemorates the pilots who trained in Claresholm, and those who were stationed in Claresholm during the 1950s for NATO training as well. More of Claresholm’s history is on display at the town museum, a multi-building facility that includes an original 1912 sandstone train station, and Claresholm’s first school. Moving forward in time, one will find a fantastic way to connect with Claresholm’s rich ranching heritage.

Active recreation is abundant too. Golf, nature walks, swimming, camping, and straightforward outdoor enjoyment are all easy to find in Claresholm.

 

Interested in this Property?

Contact the David G. Parker Team Today