Property Details

Address: 4733 - 54 Street, Red Deer, AB
Status: For Sale
Price: $2,500,000
Price Per Door: $83,333
No. of Units: 30
Cap Rate: 6.26%


Windmill Apartments is a 30 suite apartment building located at 4733 - 54 Street,
Red Deer, Alberta. It is a three and a half storey, walk-up, wood frame construction
building built in 1981. There are balconies on the three upper floors. There are 30
energized surface parking stalls, one per unit. Each suite is individually metered.
The suite mix is 17 One-Bedroom suites, 12 Two-Bedroom suites and 1 Three-
Bedroom suite.
The building is located in a quiet, peaceful neighborhood, with transit stops located
within a five minute walk. It is also within close proximity to amenities including
restaurants, an established grocery chain, and the city’s major roadways.


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
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
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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