For Sale

Opportunity

Partnership. Performance.

avisonyoung.com

• 20 unit building located in Canora, one of Edmonton’s strongest rental neighbourhoods

• Canora has a 4.6% vacancy rate, less than the Edmonton city average of 5.3%

• Building exterior is fully refurbished, in addition to several improvements to common

areas and suites

• Easy access to the West Edmonton Mall, Mayfield Common and Mackinnon Ravine trails

• Located steps from the future Valley Line West LRT stop slated to begin construction in

2020-2021

Amit Grover, Principal 780.540.5421 amit.grover@avisonyoung.com

Jandip Deol, Principal 780.540.5422 jandip.deol@avisonyoung.com

Ivy Manor 15525 - 103 AVENUE EDMONTON, AB

Brandon Imada, Associate 780.702.5826 brandon.imada@avisonyoung.com

Property DetailsCivic Address: 15525 - 103 Avenue, Edmonton, AB

Legal Plan: Plan 0726750, Block 2, Lot

Neighbourhood: Canora

Year Built: 1971

Zoning: RA7 - Low Rise Apartment

Number of Units: 20

Parking: Surface

Partnership. Performance.

Asking Price:

($129,500/unit)

The NeighbourhoodThe Property is located in the Canora neighbourhood,

bordered by 103 Avenue and 156th Street. Canora is among

Edmonton’s strongest rental neighbourhoods, featuring

four schools, five parks, and a variety of commercial and

retail spaces.

The community is dedicated to innovative development

and revitalization, increasing density and walkability. The

area is included in the Jasper Place Area Redevelopment

Plan featuring several development projects currently

planned or under construction.

The Property also has easy access to the downtown core,

West Edmonton Mall, Mayfield Common, Mackinnon.

Ravine and numerous restaurants, banks, gas stations, and

other amenities due to the proximity of transit stations.

Additionally, there are several schools, shopping, dining

options and hiking trails within walking distance.

$2,590,000

156 STREET

STONY PLAIN RD

Future Valley Line West LRT Stop

Ivy Manor

102 AVE NW

103 AVE NW

P

$

avisonyoung.com

Ivy Manor | 15525 - 103 Avenue, Edmonton, AB

Financial Analysis

REVENUE

# OF UNITS UNIT SIZE SF ACTUAL PROJECTED

Bachelor 3 $775-$805 $825

1 Bedroom 9 $795-$905 $950

2 Bedroom 7 $950-$1,035 $1050

3 Bedroom 1 $1,075 $1250

Gross Monthly Income $18,380 $19,625

Annual Income $220,560 $235,500

Laundry Income Actual $15.00 /unit/mo $3,600 $3,600

Gross Annual Income $224,160 $239,100

Vacancy Loss -4% ($8,966) ($9,564)

Effective Gross Income $215,194 $229,536

OPERATING EXPENSES

PER UNIT/YEAR ACTUAL PROJECTED

Management Fee Stabilized 4% $7,532 $8,034

Caretaker Stabilized $40 /unit/yr $9,600 $9,600

Utilities Stabilized $1,200 /unit/yr $24,000 $24,000

Insurance Stabilized $250 /unit/yr $5,000 $5,000

Repair and Maintenance Stabilized $700 /unit/yr $14,000 $14,000

Property Taxes Actual 2018 $16,296 $16,296

Miscellaneous/Advertising Stabilized $1,200 $1,200

Total Expenses $3,880/Unit 36.15% $77,628 $78,130

Net Operating Income $137,566 $151,406

Asking Price $2,590,000 $129,500/Unit

Capitalization Rate 5.31% 5.85%

3 Bachelor 9 OneBedroom 7 Two

Bedrooms 1 ThreeBedrooms

©2019 Avison Young Real Estate Alberta Inc. All rights reserved. The information contained herein was obtained from sources deemed to be reliable and is believed to be true; it has not been verified and as such, cannot be warranted nor form any part of any future contract. Date of publication: June 25, 2019

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Ivy Manor | 15525 - 103 Avenue, Edmonton, AB

Amit Grover, Principal 780.540.5421 amit.grover@avisonyoung.com

Brandon Imada, Associate 780.702.5826 brandon.imada@avisonyoung.com

Jandip Deol, Principal 780.540.5422 jandip.deol@avisonyoung.comFor more information contact:

West Edmonton Mall 11 Minutes

Downtown Core 15 Minutes

Whitemud Drive 8 Minutes

Groat Road 7 Minutes

Anthony Henday Drive 10 Minutes

Drive Times