Property Details

Address: 4612 - 38 Avenue, Ponoka, AB
Status: For Sale
Price: $1,785,000
Price Per Door: $85,000
No. of Units: 21
Cap Rate: 6.64%

Building & Site Info

Harvest Manor is a twenty-one suite apartment building located at 4612 - 38 Avenue in Ponoka, Alberta.
It is a three storey walk-up, wood-frame construction building with balconies.
Parking is surface and paved.
The suite mix is 3 Bachelor suites, 8 One-Bedroom suites and 10 Two-Bedroom suites.

 

City Overview

Ponoka is a town located in central Alberta, inbetween Red Deer & Edmonton. It is situated just east of the Queen Elizabeth II Highway (Highway 2), which connects the central core of the province. Ponoka is 59 Kilometers north of Red Deer, and 95 Kilometers south of Edmonton.
According to the 2016 Federal Census, the population of Ponoka is approximately 7,229 Residents.
The economy in Ponoka are largely driven by Agriculture (grain and cattle production) and the Oil and Gas industry.
Ponoka originated in 1891 as a waypoint for the railway from Edmonton to Calgary. The town was formally incorporated in 1904.
Ponoka is home to the Ponoka Stampede, a seven-day rodeo held at the end of June or beginning of July, usually coinciding with the Canada Day long weekend. This annual event attracts rodeo competitors and fans, and features a midway and other activities.
Lions Centennial Park is a major park located along the west side of Highway 2A. It features a pond with a dock, several bathroom facilities, a stage, “The World’s Largest Bucking Saddle Bronc and Rider”, the Centennial Time Capsule, several gazebos with picnic tables and the Fort Ostell Museum, as well as a splash park.
Health care facilities in Ponoka include the Ponoka Hospital and Care Centre, the Centennial Centre for Mental Health and Brain Injury, the Northcott Care Centre, and the Rimoka Housing Facility. The Ponoka Hospital and Care Centre is responsible for general health care, while the Centennial Centre serves as a care and treatment facility for mental health and is known for its brain injury program (the Halvar Jonson Centre for Brain Injury). The Northcott Care Centre and Rimoka Housing Facility both care for the elderly, with the Northcott Care Centre focusing on care for handicapped individuals.

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