Property Details

Address: 5114 - 50 Street, St. Paul, AB
Status: For Sale
Price: $2,040,000
Price Per Door: $85,000
No. of Units: 24
Cap Rate: 7.13%

Building & Site Info

Bobby Joe Apartments is a twenty-four suite apartment building located at 5114 - 50 Street in St. Paul, Alberta.

It is a two and a half storey low-rise, wood-frame construction building with balconies. It was built in 1979. Parking is surface and paved. The suite mix is 3 One-Bedroom suites and 21 Two-Bedroom suites. Recent renovations to the property include windows, balconies and HardiePlank siding. Boiler and hot water tank were replaced in 2013.

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St. Paul is a small town in east-central Alberta, located within the county of St. Paul. It is approximately 2 hours (196 Kilometers) north-east of Edmonton.
According to the 2016 Census, the population of St. Paul is approximately 5,728 residents.
The community was originally founded as a Metis colony in 1896 but the colony later dissolved between 1905 – 1909. After the area was made available to other groups in 1909, primarily the French-Catholic, the community incorporated as the Village of St. Paul de Metis on June 14th, 1912. It later incorporated as the Town of St. Paul in December of 1936.
St. Paul’s economy is driven by the agriculture and service industries. St. Paul is located in Alberta’s Lakeland tourism district.
St. Paul is home to the world’s first UFO landing pad which was officially opened in June of 1967. Built as a centennial project in an effort to attract both tourists and Martians to the municipality. The pad consists of a raised platform with a map of Canada embossed on the back stop.
Amenities in St. Paul include Canadian Tire, Shoppers drugmart, Co-op, Extra Foods, Peavey Mart, UFA & Kal Tire.
Restaurants in town include Smitty’s, A&W, Subway, MacDonalds, KFC, Tim Hortons, Lakeland Brewing Company and Boston Pizza, among others.

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