|Address:||5125 - 50 Street, Redwater, AB|
|Status:||Sold on August 9, 2019|
|Price Per Door:||$104,167|
|No. of Units:||12|
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%
This 12 suite townhouse complex is located at 5125 – 50 Street in Redwater, Alberta. The complex consists of three 4-Plex buildings. The 4-plexes are two-story townhouse style, wood-frame construction units with stucco siding. The suite mix is 8 two-bedroom suites and 4 three-bedroom suites.
Each unit has a full concrete basement, natural gas fire place, forced-air gas furnace, hot water tank, and individual washer and dryer. Most of the hot water tanks have been replaced in the past three years. Six of the townhomes have new, large wooden decks, while the remaining six have concrete landings.
The townhomes back onto a public park with a children’s playground. Large spruce trees separate the townhome lot from the park. Downtown Redwater is within walking distance.
Redwater is a small town located approximately 40 minutes north-east of Edmonton and 30 minutes from Fort Saskatchewan. The population according to the 2016 Census was just over 2000 residents. Redwater is established along Highway 38, and just east of Highway 28, which offers access north to Fort McMurray, south to Edmonton and east to Saskatchewan.
The economy is supported primarily by agriculture and oil, making it a key player in Alberta’s Industrial Heartland. A recreation facility, an outdoor pool, a nine-hole golf course and some of the best ATV trails in Alberta are part of the town’s attractions.
Education is offered for Kindergarten through Grade 12 by Ochre Park School and Redwater School. An RCMP detachment is located in the community, and the Redwater Heath Centre, ambulance service and fire departments serve the town and surrounding area.
A Tim Hortons is being built and is scheduled to open in 2018.
Redwater is situated in Alberta’s Industrial Heartland, where there are approximately nineteen projects completed, underway or in development stages.
Air Products Hydrogen Plant (Sturgeon County) – Completed 2016
Keyera – NGL Fractionation Expansion (Fort Saskatchewan) – Completed 2016
Pembina Pipeline – Redwater Fractionator & Storage II & III (Sturgeon County) – Completed 2016
Alberta Carbon Truck Link (Multiple Municipalities)
ATCO Energy Solutions - Salt Cavern Expansion (Strathcona County)
Enbridge – Norlite Pipeline (Multiple Municipalities
North West Redwater Partnership – Sturgeon Refinery (Sturgeon County)
Pembina Pipeline – Canadian Diluent Hub (Strathcona County)
Plains Midstream – NGL Fractionation Expansion (Fort Saskatchewan)
TransCanada – Grande Rapids Pipeline (Multiple Municipalities)
TransCanada – TC Terminals (Strathcona County)
Inter Pipeline – Propane Processing Facility (Strathcona County)
Pembina Pipeline – Propane Processing Facility (Strathcona County)
For more information, see the Alberta’s Industrial Heartland Association 2016/2017 Report to Community
See also Alberta’s Industrial Heartland
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