Property Details

Address: 3715 - 51 Avenue, Red Deer, AB
Status: For Sale
Price: $985,000
Price Per Door: $164,167
No. of Units: 6
Cap Rate: 3.72%

Building & Site Info

This six suite apartment building is located at 3715 - 51 Avenue in Red Deer, Alberta, in the neighbourhood of South Hill.
It is a three storey walk-up, wood-frame construction building with balconies.
It was built in 2010. Parking is heated and underground, with 4 additional energized surface stalls located at the rear of the building.
Each suite has one assigned parking stall in the underground parkade, and it is included in their monthly rental rate.
Each suite includes a stove, microwave, fridge, dishwasher, washer, dryer and window coverings.
Each suite has a high efficiency furnace and “Hot Water on Demand” water heater unit.

 

City Overview

Red Deer is a city located in central Alberta, half way between Edmonton and Calgary. It is situated along the Queen Elizabeth II Highway (Highway 2), which connects the central core of the province.
According to the 2016 Federal Census, the population of Red Deer is approximately 100,418 residents, making it Alberta’s third most populous city.
The region’s economy is primarily supported through agriculture and the oil and natural gas industries, as well as tourism and transportation. Red Deer’s central location along the province’s busiest highway contributes to the trade and economic opportunities in the region, making it one of the fastest growing economies in Canada.
Transportation in the city is offered by Red Deer Transit which provides local bus services. The major roadway is 50th/Gaetz Avenue which runs north-south through the city, giving access to the majority of the Red Deer’s commercial development. Red Deer has full amenities, including grocery, shopping, banking, and entertainment, as well as two shopping malls, Bower Place and Parkland Mall. Major retailers include Walmart, Costco, Canadian Tire, Save-On-Foods, and Real Canadian Superstore.
The Red Deer Regional Hospital serves the city and surrounding area with emergency, acute and palliative care as well as other medical services.
There are three school districts that operate close to fifty schools from elementary through grade twelve. Red Deer College is a post-secondary institution offering degrees and certificates in over seventy-five programs, as well as one of the top athletic programs in the country.
The city is home to the Westerner Exposition Grounds, which hosts numerous large events, including the Canadian Finals Rodeo, a multi-day rodeo showcasing competitions and entertainment. Waskasoo Park is located on the southwest outskirts of the city along the Red Deer River and provides over eighty kilometers of trails for recreational use including biking, walking, and cross-country skiing.
Red Deer’s central location and economic advantages along with its services and geographical setting makes it an attractive community to do business, raise a family and live.

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