Derrick Manor is a 14 unit 2.5 storey walk up Apartment Bldg on a huge 25,064 sq.ft. RA4 (High Density) lot in Drayton Valley in the County of Brazeau. 1.5 hrs SW of Edm. Economy driven by Oil/Gas, Agriculture, Forestry (Pulp Mill located in town). Built in 1974. Concrete foundation. Footprint 5,808 sq.ft. - 17,424 sq.ft. total (To be confirmed by Buyer). Wood frame construction. It features 14 generous size 2 Bdrm units with 10 Balconies & 4 Patios. Asphalt single roof was replaced in 2012. Attractive Stucco & Wood Exterior. Double glazed PVC Windows. Intercom was replaced in 2013. Upgrades are done as required when Tenants vacate. Very well maintained by long term Owners who self-manage with a Caretaker who maintains the project would be willing to remain. Low rental rates haven't been increased since 2015. Includes 14 stoves & fridges. Coin Laundry Machines are owned. Treat as Clear Title. Offered at $75,000/unit with a cap rate of over 7%. Proforma available upon request. You won't be disappointed
Courtesy Of Val Toffoli Of MaxWell Polaris
Courtesy Of Val Toffoli Of MaxWell Polaris.
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Listing information last updated on August 20th, 2019 at 5:46am CDT.