Ivy Manor · 2019. 7. 5. · • Easy access to the West Edmonton Mall, Mayfield Common and...
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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 [email protected] Jandip Deol, Principal 780.540.5422 [email protected] Ivy Manor 15525 - 103 AVENUE EDMONTON, AB Brandon Imada, Associate 780.702.5826 [email protected]
Transcript of Ivy Manor · 2019. 7. 5. · • Easy access to the West Edmonton Mall, Mayfield Common and...
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 [email protected]
Jandip Deol, Principal 780.540.5422 [email protected]
Ivy Manor 15525 - 103 AVENUE EDMONTON, AB
Brandon Imada, Associate 780.702.5826 [email protected]
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 [email protected]
Brandon Imada, Associate 780.702.5826 [email protected]
Jandip Deol, Principal 780.540.5422 [email protected] 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
