Property Details

Address: 5005, 5007, 5009 - 50 Street, La Corey, AB
Status: For Sale
Price: $495,000
Price Per Door: $41,250
No. of Units: 12
Cap Rate: 8.28%

This listing is part of the North-Central Portfolio which includes 4 towns and 116 units. 

 Portfolio List Price: $6,905,000

Portfolio Price Per Door:  $59,525

Portfolio CAP Rate: 9.58%

 

Amenities 

5005 – 50 Street, 5007 – 50 Street, and 5009 – 50 Street are three apartment buildings located in La Corey, Alberta; approximately three hours north-east of Edmonton, and just twenty minutes north of Bonnyville.

This is listing is three seperate parcels of land with a total of 12 rental units. Each parcel has its own water well and sewage system.

5005 - 50 Street

This property is a large 1.5 story house with 5 bedrooms and 2.5 baths on the main floor and a recently developed basement suite with two bedrooms and one bath. The main floor features a kitchen, dining area and living room. The basement suite has a separate entrance and also features a kitchen and living room. The upstairs units and the basement are rented out separately on either a nightly or monthly basis.

The 0.43 acre lot provides space for parking.

5007 - 50 Street

This property is a side-by-side duplex. Each side has two bedrooms, a full bath and a full basement. The main floor is fully furnished and the basement is undeveloped. Both sides share a covered deck and BBQ area.

The 0.43 Acre lot provides space for parking.

5009 - 50 Street

This parcel has a total of 8 buildings, including 6 one-bedroom cabins, 1 two-bedroom house, and a separate building with a one-bedroom suite, office and coin laundromat.

The cabins and house each come with bath and kitchen. The office building with one-bedroom suite is a kitchenette suite with bath.

All buildings are furnished and equipped with appliances.

The 1.3 acre lot provides ample parking space.

 

Location

La Corey is a hamlet in northern Alberta, located approximately 3 hours north-east of Edmonton, and just 20 minutes north of Bonnyville, the nearest large centre to La Corey.

According to the 2016 census, the population of Bonnyville is just over 5,900 residents. The economy is supported through oil and agriculture. There are seven schools operating in Bonnyville, offering education from Kindergarten through Grade 12 in both English and French (for some grades).

A municipal library, RCMP detachment, and Healthcare Centre, which offers emergency, acute and long-term care services, serve the city and surrounding area.

The Centennial Centre, a multi-purpose center for entertainment, sports and recreation was built in 2007. A fitness centre and indoor track, three rinks, and  field house are some of facilities available.

The town`s amenities include: multiple chain hotels, Sobeys, Tim Hortons, McDonalds, DQ, A&W, Mark’s Work Wearhouse, and RBC Bank.

Interested in this Property?

Contact the David G. Parker Team Today