Property Details

Address: 5221 - 47 Street, Barrhead, AB
Status: For Sale
Price: $1,995,000
Price Per Door: $95,000
No. of Units: 21
Cap Rate: 6.08%

Building & Site Info

Paddle River Apartments is a Twenty-one suite apartment complex located at 5221 - 47 Street in Barrhead, Alberta.
The apartment building is a thirteen suite, two storey walk-up, wood-frame construction building with balconies. The townhouse building is an eight suite, two storey, wood-frame construction building. Both were built in 1984. Parking is surface and paved.
The apartment buildings suite mix is 1 Bachelor suite, 10 One-Bedroom suites and 2 Two-Bedroom suites. The Townhouse suite mix is 8 Two-Bedroom suites.
Recent upgrades to this complex includes:
2003 - Replaced all bedroom windows throughout.
2006 - Replaced all refrigerators and stoves to white.
2007 - Painted all hallways and entrance.
2012 - Replaced all hall light fixtures, replaced all patio doors, and replaced siding and trim to Hardy Panel and painted.
2015 - Re-shingled roof, all new railings on top balconies, replaced patio deck planks as needed, stained all upright rails & fascia under decks of top balconies.
2016 - Replaced high efficiency water to water heat exchanger HWT and two Viessmann high efficient boilers with two Trinity boilers for back up, and replaced panel fire alarm system.
2017 - Replaced parking lot asphalt and sidewalks
2018 - Took out grass and rocked the yard
2016 - 2019 - Replaced all thermostats and intercoms, smoke alarms, all Delta tapsets on k-sink, basin and bathtubs c/w rough-in, and replaced all electrical receptacles.

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